Monday, June 30, 2008
EDITOR’S VOICE
EDITOR’S VOICE
After a month of waiting eagerly, IMA Chrysalis is BACK! We are pleased to release the 3rd edition of the saga in IMA.
After four months in the IMA campus, the word “home” has become more synonymous with our dormitories. We have formed great bonds with our friends and the place has become something of our own. The extended hours in the institute has become a routine and people are now liking it.
The most important event that took place in this period was our first trimester exams when we got the first taste of what exactly IMA is all about. Just after this, as we were putting off our thinking caps, we were greeted by the advent of VC (Virtual Class).
The VCs have come both as a boon and a bane for the students. Standardization and uniformity has been achieved but we compromised on the benefits of the interactive sessions. But life has its own flipsides and of course the grass always looks greener on the other side.
Painting by: Koel Ghosh (B)Another major change was the change in the Editorial team for IMA Chrysalis and this is our first offering as a new team; an effort to continue the great work done by the previous squad. So we would like to take this opportunity to thank the previous committee for the fabulous work they have done and the way they have assisted and guided us in our endeavour for the third edition. Your feed back would be highly appreciated.
Happy reading!
Editorial Team
TEAM CHRYSALIS
~ TEAM CHRYSALIS ~
Standing: (L-R)Archna Dixit (Sec A), Krishna Kumar (Sec A), Anitha Devi K (Sec B)., Eshan Pathak (Sec C), Nisha Madan (Sec C), Deepankar Baruah (Sec D), Harsh Bhatia (Sec D), H.Mohit Betala (Sec E), A.Ahuja (Sec F), Satish Kumar Rana (Sec F), Gandhimathi M.(Sec G), Y. Bisheshwor Meetei (Sec G).
Seated: (L-R) Fiona Lobo (Faculty), Himmat Gori (Sec B), Sharmistha Ghosh (Sec E), Suszan John (Faculty).
Mother
Mother
There is no love, like a mother's love, no stronger bond on earth....
like the precious bond that comes from God,
to a mother when she gives birth.
A mother's love is forever strong,
never changing for all time...
and when her children need her most,
a mother's love will shine.
God bless these special mothers,
God bless them every one...
for all the tears and heartache,
and for special work they have done.
When her days on earth are over,
a mother's love lives on...
through many generations,
with Gods blessings on each one.
Be thankful for our mothers,
for they love with a higher love...
from the power God has given, and the strength from up above.
-vinay kumar (E)
"INSPIRATIONAL QUOTES"
"INSPIRATIONAL QUOTES"
Decisions can be hard for a man to make,
But hard decisions make a man.
Good leaders face up to the music,
Even when they dislike the tune.
Wiser people make more opportunities,
Than they find.
Its not the load that breaks us down,
Its the way we carry it.
In middle of every difficulty,
There is an island of opportunity.
Tough time do not lasts,
But, tough people do.
The more enthusiastic one is about 'Life',
The more joy one will find in it.
We should never be afraid of our tears,
Because they simply soften our hearts, wash our eyes and clean our VISION.
- Vinay Chaudhary (‘A)
Happenings @ IMA
Fire Safety & First-Aid Workshop
Keeping in mind, the growing need for emergency handling requirements, the Manipal Group organized a Fire & Safety workshop. The instructor, Mr. M.Ahmed from Crisis Management (P) Ltd conducted an enlightening and entertaining session on 16th May 2008. Causes and prevention of Fire Accidents were the major highlights of the workshop. The different types of fires, graded from A to E and varieties of fire extinguishers were the major areas of discussion. This live demonstration by the fire experts taught the students how to cope-up with mishaps.
It was then followed by the First-Aid workshop, conducted by Dr. Suresh Dinkar. He not only demonstrated how to use a plain cloth to make a bandage, but also taught the critical methods of Cardiopulmonary Resuscitation (CPR).
Hunt for Photogenic Face
A massive manhunt was launched to discover the most photogenic faces of IMA. A photo-session was conducted on the 22nd of May. Few students got the golden opportunity to be a feature on the IMA’ s brochures.
Dance Party
Saturday, the 17th May was scheduled for a dance party. The objective being breaking the hang-over of the 1st Trimester exams. A dance party was the need of the hour and students made the most out of it by dancing to the tunes of scintillating Punjabi & Hindi numbers.
Pranayama
A five day "Pranayaama" workshop was organized from 26th May, in which a lot of participants were benefited. This session of breathing, Surya Namaskar & various other exercises was conducted by a renowned yoga practitioner, Mr. B.S.Shastri. It acted as a stress-buster to the strenuous schedule for both the students, as well as the faculties at IMA, including our Dean, Mr. T.R. Shastri.
Table-Tennis Tournament
All work and no play – makes Jack a dull boy", thus in order to overcome the stress of studies, Table-Tennis Matches was organized on the 23rd & 24th of May. Various participants elicited their potentialities. The sportive spirit oozed out of both the boys and the girls. Tushar Girhepunje, Kanwal Bhatia & Manpreet Kaur from Section A contributed to secure the 1st place for section wise win.
The match consisted of singles, doubles and mixed doubles. Sect. A was declared the overall winner, with Section D being the Runners-up.
ICICI Customer First Workshop
Sections A to G underwent a training workshop on the theme 'Customer First' in the last week of May. These interactive sessions included presentations, role-plays, videos and other activities. It proved to be a great success in moulding the personality of the participants.
Sangeet Ceremony
A cultural event, comprising of singing & dancing performances was organized on 30th of May. This event name as 'Sangeet Ceremony' marked the upcoming marriage ceremony of Ms. Pricilla Archana, scheduled on 4th of July this year. A gift was presented to Ms. Archana by the lady participants as a memento.
- H. Mohit Betala (E)
- Sharmistha Ghosh (E)
Keeping in mind, the growing need for emergency handling requirements, the Manipal Group organized a Fire & Safety workshop. The instructor, Mr. M.Ahmed from Crisis Management (P) Ltd conducted an enlightening and entertaining session on 16th May 2008. Causes and prevention of Fire Accidents were the major highlights of the workshop. The different types of fires, graded from A to E and varieties of fire extinguishers were the major areas of discussion. This live demonstration by the fire experts taught the students how to cope-up with mishaps.
It was then followed by the First-Aid workshop, conducted by Dr. Suresh Dinkar. He not only demonstrated how to use a plain cloth to make a bandage, but also taught the critical methods of Cardiopulmonary Resuscitation (CPR).
Hunt for Photogenic Face
A massive manhunt was launched to discover the most photogenic faces of IMA. A photo-session was conducted on the 22nd of May. Few students got the golden opportunity to be a feature on the IMA’ s brochures.
Dance Party
Saturday, the 17th May was scheduled for a dance party. The objective being breaking the hang-over of the 1st Trimester exams. A dance party was the need of the hour and students made the most out of it by dancing to the tunes of scintillating Punjabi & Hindi numbers.
Pranayama
A five day "Pranayaama" workshop was organized from 26th May, in which a lot of participants were benefited. This session of breathing, Surya Namaskar & various other exercises was conducted by a renowned yoga practitioner, Mr. B.S.Shastri. It acted as a stress-buster to the strenuous schedule for both the students, as well as the faculties at IMA, including our Dean, Mr. T.R. Shastri.
Table-Tennis Tournament
All work and no play – makes Jack a dull boy", thus in order to overcome the stress of studies, Table-Tennis Matches was organized on the 23rd & 24th of May. Various participants elicited their potentialities. The sportive spirit oozed out of both the boys and the girls. Tushar Girhepunje, Kanwal Bhatia & Manpreet Kaur from Section A contributed to secure the 1st place for section wise win.
The match consisted of singles, doubles and mixed doubles. Sect. A was declared the overall winner, with Section D being the Runners-up.
ICICI Customer First Workshop
Sections A to G underwent a training workshop on the theme 'Customer First' in the last week of May. These interactive sessions included presentations, role-plays, videos and other activities. It proved to be a great success in moulding the personality of the participants.
Sangeet Ceremony
A cultural event, comprising of singing & dancing performances was organized on 30th of May. This event name as 'Sangeet Ceremony' marked the upcoming marriage ceremony of Ms. Pricilla Archana, scheduled on 4th of July this year. A gift was presented to Ms. Archana by the lady participants as a memento.
- H. Mohit Betala (E)
- Sharmistha Ghosh (E)
BE AN OPTIMIST
It gives us strength,
It gives us courage,
when we strive hard,
to make things better,
It demands less energy,
to do more work,
when we have the positive,
views in our efforts.
Try to join things,
In case of breaks,
It can't be BEST,
but can be at least GREAT.
Because .
Every fall is followed by the rise,
as a seed falls for new LIFE,
to learn every moment
and after every twist,
Is what is called to be an
"OPTIMIST"
Archana Dixit (A)
It gives us courage,
when we strive hard,
to make things better,
It demands less energy,
to do more work,
when we have the positive,
views in our efforts.
Try to join things,
In case of breaks,
It can't be BEST,
but can be at least GREAT.
Because .
Every fall is followed by the rise,
as a seed falls for new LIFE,
to learn every moment
and after every twist,
Is what is called to be an
"OPTIMIST"
Archana Dixit (A)
Hotspots Around Bangaluru
GOMATTESHWARA
Around 141kms from Bangalore
A 100 years old and 17mt tall statue of the Jain god, strategically located between two scenic hills Chandragiri & Indragiri is one of the most important Jain pilgrim centre, it houses world's tallest
monolithic statue of Lord Bahubali.
Frequent bus service
BRINDAVAN GARDEN
19 kms from Mysore
Tranquil ornament gardens , laid out below the Krishnagar dam, famous for it's musical fountains, highlight is 'dancing musical fountains'
CAUVERY FISHING CAMP
100 kms from Bangalore on the banks of river Cauvery, a dream come true for campers
Mahseer fishing camp is Asia's premiere sporting fish and is a prize catch for everyone
Rafting on the rapids and trekking
Magnificently sculpted Lord Shiva's temple
SAVANADURGA
61kms from Bangalore
Trekkers paradise, towering hill of height 1207 and a circumference of 10mts
SRI MAHALINGESHWARA TEMPLE
12 kms from Mysore (Around 130 kms from Bangalore)
Built by Hoysalas 800 years ago
Images of Lord Shiva, Lord Ganesh and Devi Parvati here, are known for it's unusual style
- Satish Kumar Rana (F)
- Y. Bisheshwor Meetei (G)
Around 141kms from Bangalore
A 100 years old and 17mt tall statue of the Jain god, strategically located between two scenic hills Chandragiri & Indragiri is one of the most important Jain pilgrim centre, it houses world's tallest
monolithic statue of Lord Bahubali.
Frequent bus service
BRINDAVAN GARDEN
19 kms from Mysore
Tranquil ornament gardens , laid out below the Krishnagar dam, famous for it's musical fountains, highlight is 'dancing musical fountains'
CAUVERY FISHING CAMP
100 kms from Bangalore on the banks of river Cauvery, a dream come true for campers
Mahseer fishing camp is Asia's premiere sporting fish and is a prize catch for everyone
Rafting on the rapids and trekking
Magnificently sculpted Lord Shiva's temple
SAVANADURGA
61kms from Bangalore
Trekkers paradise, towering hill of height 1207 and a circumference of 10mts
SRI MAHALINGESHWARA TEMPLE
12 kms from Mysore (Around 130 kms from Bangalore)
Built by Hoysalas 800 years ago
Images of Lord Shiva, Lord Ganesh and Devi Parvati here, are known for it's unusual style
- Satish Kumar Rana (F)
- Y. Bisheshwor Meetei (G)
Deeds of Kindness
Suppose the little Cowslip
Should hang its Golden cup
And say, "I am such a little flower
I'd better not grow up!"
How many a weary traveller
Would miss its fragrant smell,
How many a lit child would grieve
To lose it from the dell!
Suppose the glistening Dewdrop
Upon the grass should say
"What can a little Dewdrop do?
I'd would better roll away!"
The blade on which it rested,
Before the day was done,
Without the drop to moisten it
Would wither in the sun.
Suppose the little Breeze's
Upon the summers day,
Should think themselves too small to cool
The traveller on his way,
Who would not miss the smallest?
And softest once that blow,
And think they made a great mistake
If they were acting so?
How many deeds of kindness
A little child can do,
Although it has but little strength
And little wisdom too!
It wants a loving spirit
Much more than strength, to prove
How many things a child
May do for others by its love.
- PALLAVI TELI (C)
Should hang its Golden cup
And say, "I am such a little flower
I'd better not grow up!"
How many a weary traveller
Would miss its fragrant smell,
How many a lit child would grieve
To lose it from the dell!
Suppose the glistening Dewdrop
Upon the grass should say
"What can a little Dewdrop do?
I'd would better roll away!"
The blade on which it rested,
Before the day was done,
Without the drop to moisten it
Would wither in the sun.
Suppose the little Breeze's
Upon the summers day,
Should think themselves too small to cool
The traveller on his way,
Who would not miss the smallest?
And softest once that blow,
And think they made a great mistake
If they were acting so?
How many deeds of kindness
A little child can do,
Although it has but little strength
And little wisdom too!
It wants a loving spirit
Much more than strength, to prove
How many things a child
May do for others by its love.
- PALLAVI TELI (C)
Friendship
God invented friends because
He knew we'd all 'need'
Someone special to pick flowers with us
Some one special to share A 'SUNSET'
A smile or A sorrow with us
Naturally, 'God' knew
Just what kind of friend I'd Need
Someone who would 'laugh'
At my silly Jokes,
Listen when I'm feeling down
And put up with my moods
Now and then...
He knew I'd need 'some one'
Who would be 'EXTRA' caring
Funny and for giving too
And even thought that was
A pretty Tall order,
He did it...
God made "U"
A perfect and
special friend 4 'ME!!'
Thanks for Giving me your 'Priceless'
"FRIENDSHIP"
- SUSHIL HINGONIA (D)
Faculty corner, Creative Customer Service
To what extent can organizations lend their hands to create a seamless experience for the customers, create a wow experience for a customer and bring a smile on his face?
If customer needs are anticipated, systems are in place, employees are trained, the company runs like a well-oiled machine. But what happens when the unexpected happens? When customers have an "unusual" request or they simply don't know the rules of the system? The unexpected, I suggest, provides the opportunity to stretch the system, improve the system, or even forget the system. Here is an experience that I would want to share with you all today.
The clock was ticking so fast on a Friday evening, as I managed to reach the airport right on time, my tired eyes searched for the check in counter in that huge doom shelter.
Dragging my bag slowly as the queue was shrinking the little basket kept on the counter grabbed my attention. A little peeping helped me guess what was in it, the airline tag of course. Two gentlemen at the counter (with one out of two computers not working) were lost in helping the passengers. Finally I got my boarding pass, panting and dragging my bag reached at gate#3 after the security check.
As I was about to get into the bus I heard some one saying "Ma'am your little bag does not have the airline tag I am afraid you have to go through the security check again"??? Now what do you think my reaction could have been. I was already exhausted, and as I did not want to argue much, I just said "Alright I will get this done however it is your responsibility to take care of all these at the check in counter itself. I do not want to miss my flight at any cost".
After a painful struggle to just get aboard, I see that the bag can not fit in anywhere. Gosh!!!!! Why me??? I asked the airhostess to help me out with the bag. Just then I saw a gentle man dressed all in white with stripes on his shoulders. He was the co pilot. „Sir, could you please help me dump my bag somewhere" was my request. 10 minutes to take off and my poor bag still did not find any place. He quickly replied saying "sure ma'am. He immediately called some one to put it at the rear end of the aircraft. He also instructed the air hostesses.
He got back to me and said, "No worries ma'am , you will receive your baggage when we touch down" What a relief the gentleman seemed like an angle to me at that time. Being the copilot it was not definitely was not his responsibility to take care of the luggage. He still did! We took off, cruised and landed. The same gentle man came out of the pilot cabin and said "please come with me ma'am, my apologies for the inconvenience, and please fly with us again" I replied saying "No way! I have experienced enough today" He then started explaining that this issue has been taken care of. He called the person in charge of baggage and informed him about my baggage and addressed him to give the baggage immediately when we got down from the aircraft. The officer said, We can not give the baggage on ground. These were the exact words to which the copilot said, "I have promised the lady to give her baggage on ground and I would like to keep up my word, Company Ka izzat ka sawal hai". I looked at his ID and found his name and said, „Mr. Mukherjee it was a roller coaster experience today. I really appreciate for going that extra mile to help me out today thank you so much, you did something really great today thank you so much".
"Pleasure is all mine please fly with …. again" he replied with a pinch of American accent. I left the airport with a smile on my face. I came home and wrote about my experience and of course about Mr. Mukherjee in the online customer feed back form.
For companies with excellent systems in place, the next frontier in customer service is "Wow experiences with each customer" handling the unexpected creatively. I have observed that companies and professionals practicing creative customer service successfully have one thing in common.
For Mr. Mukherjee it was not just a scenario and he was also concerned about the proper handling and safety and he personally decided to go beyond. How much did the officer at the check in counter care for customers like us? How much did the air hostess care? How much did Mr. Mukherjee acre?
The second commonality is that employees have authority. Even when people care, if their hands are tied they can't help like the person who denied to give the baggage on ground. In addition, employees who aren't caring might be motivated to be creative for customers simply because it feels good to exercise their authority.
With technology so advanced, doing a good job isn't good enough to separate from the pack. The prize will go to the one creating new frontiers. How far will you go to Wow a customer, is the question.
- Nirupama Jina(Faculty BPG)
If customer needs are anticipated, systems are in place, employees are trained, the company runs like a well-oiled machine. But what happens when the unexpected happens? When customers have an "unusual" request or they simply don't know the rules of the system? The unexpected, I suggest, provides the opportunity to stretch the system, improve the system, or even forget the system. Here is an experience that I would want to share with you all today.
The clock was ticking so fast on a Friday evening, as I managed to reach the airport right on time, my tired eyes searched for the check in counter in that huge doom shelter.
Dragging my bag slowly as the queue was shrinking the little basket kept on the counter grabbed my attention. A little peeping helped me guess what was in it, the airline tag of course. Two gentlemen at the counter (with one out of two computers not working) were lost in helping the passengers. Finally I got my boarding pass, panting and dragging my bag reached at gate#3 after the security check.
As I was about to get into the bus I heard some one saying "Ma'am your little bag does not have the airline tag I am afraid you have to go through the security check again"??? Now what do you think my reaction could have been. I was already exhausted, and as I did not want to argue much, I just said "Alright I will get this done however it is your responsibility to take care of all these at the check in counter itself. I do not want to miss my flight at any cost".
After a painful struggle to just get aboard, I see that the bag can not fit in anywhere. Gosh!!!!! Why me??? I asked the airhostess to help me out with the bag. Just then I saw a gentle man dressed all in white with stripes on his shoulders. He was the co pilot. „Sir, could you please help me dump my bag somewhere" was my request. 10 minutes to take off and my poor bag still did not find any place. He quickly replied saying "sure ma'am. He immediately called some one to put it at the rear end of the aircraft. He also instructed the air hostesses.
He got back to me and said, "No worries ma'am , you will receive your baggage when we touch down" What a relief the gentleman seemed like an angle to me at that time. Being the copilot it was not definitely was not his responsibility to take care of the luggage. He still did! We took off, cruised and landed. The same gentle man came out of the pilot cabin and said "please come with me ma'am, my apologies for the inconvenience, and please fly with us again" I replied saying "No way! I have experienced enough today" He then started explaining that this issue has been taken care of. He called the person in charge of baggage and informed him about my baggage and addressed him to give the baggage immediately when we got down from the aircraft. The officer said, We can not give the baggage on ground. These were the exact words to which the copilot said, "I have promised the lady to give her baggage on ground and I would like to keep up my word, Company Ka izzat ka sawal hai". I looked at his ID and found his name and said, „Mr. Mukherjee it was a roller coaster experience today. I really appreciate for going that extra mile to help me out today thank you so much, you did something really great today thank you so much".
"Pleasure is all mine please fly with …. again" he replied with a pinch of American accent. I left the airport with a smile on my face. I came home and wrote about my experience and of course about Mr. Mukherjee in the online customer feed back form.
For companies with excellent systems in place, the next frontier in customer service is "Wow experiences with each customer" handling the unexpected creatively. I have observed that companies and professionals practicing creative customer service successfully have one thing in common.
For Mr. Mukherjee it was not just a scenario and he was also concerned about the proper handling and safety and he personally decided to go beyond. How much did the officer at the check in counter care for customers like us? How much did the air hostess care? How much did Mr. Mukherjee acre?
The second commonality is that employees have authority. Even when people care, if their hands are tied they can't help like the person who denied to give the baggage on ground. In addition, employees who aren't caring might be motivated to be creative for customers simply because it feels good to exercise their authority.
With technology so advanced, doing a good job isn't good enough to separate from the pack. The prize will go to the one creating new frontiers. How far will you go to Wow a customer, is the question.
- Nirupama Jina(Faculty BPG)
Faculty corner, Low Interest Rates Create Wealth
Today "Wealth" is the most discussed topic in the management literature, it may be either wealth creation or wealth erosion, but wealth is always prominently mentioned in today's management literature. In common man language it is equivalent to "Profits". Today people understand it in terms of share price that if share prices are increasing wealth is created and if it falls then wealth is eroded. (Unfortunately today every single second wealth is created and eroded in stock markets because of some other reasons) Financially, wealth creation means adding higher value (in terms of money) to the firm than the cost of resources of the firm. The entire process is evaluated on the basis of "Time Value Principle".
Let's understand the concept of "Time Value of Money". Financial authorities explain it in very simple terms like one rupee of today is more valuable than one rupee of tomorrow. It actually means given a choice anybody will prefer to receive one rupee today than receiving it tomorrow. Two points supports this concept.
Firstly, anyone gets a rupee today he can put it in a bank and get interest on it. Secondly, if anybody spends that rupee today then he gets more goods in one rupee as compared to the number of goods he will get if he prefers to spend that one rupee a day later. The implicit assumption behind the second point is that most economies have inflation, means prices of goods and services increases with time.
Time value of Money concept is the fundamental concept behind the "Present Value of Money". Present Value of Money is calculated for knowing the viability of wealth creation. This exercise in finance is known as IMA chrysalis may 2008 edition 14
"Capital Budgeting" exercise. Simply put if anyone makes an investment today and receives benefits in future over a number of years, then the benefit received in future should be more than the cost of the investment, then we say that investment is viable or wealth is being created.
Investment done is denominated in terms of money invested and benefits received are also denominated in terms of money received. Since we know that money received today is better than the money received a year later, we compare today's money with the money received in future by taking present value of future money. To know present value of future money principle of discounting is applied. As today's money is higher in value than future money therefore future money is discounted by a discount factor, which will make future money comparable to today's money. Let's see how it is practically done.
Suppose we invest Rs.10 crores today and our time horizon is 3 years. In I year we get Rs.3 crore, in II year we get another Rs.6 crore and in III year we get Rs.3 crore as benefits. For the time being just takes into consideration that discount factor is 10%. Therefore; 10 = 3 / (1.1) + 6 / (1.1) 2 + 3 (1.1) 3 = 9.94 (approx.)
This means that even though the investment of Rs.10 crore gives total benefits of Rs.12 crore over a period of three years but when this Rs.12 crore is compared in their present value, then this is only Rs.9.94 crore which is less than Rs.10 crore. Conclusion drawn is that this investment is eroding wealth and therefore not desirable.
The important point to consider here is that we took a discount factor of 10%; instead of that now we take a discount factor of 9% and see the calculations. 10 = 3 / (1.09) + 6 / (1.09) 2 + 3 (1.09)2 = 10.12 (approx.)
This means that investment of Rs.10 crore gives total benefits of Rs.12 crore over a period of three years and a benefit of Rs.10.12 crore when compared in their present value, which is more than Rs.10 crore. Conclusion drawn is that this investment is creating wealth and therefore desirable.
It seems strange that by changing just one mathematical number (discount factor) in our example, we have turn- around a wealth eroding investment to a wealth-creating proposition. (In actual it is not so easy to do that) Point, which I would like to emphasize here, is that the discount factor plays a very important role in wealth creating process. The obvious question is what this discount factor means?
As I have already mentioned earlier that wealth is created when benefits received (in money terms) is more than the cost of resources. As we all know that many resources are utilised like man, machine, materials, minutes, etc. but all these resources can be converted into one common resource for simple understanding and for comparison purpose that is money. Therefore going by definition, the cost of money should be less that the total money received in future to create wealth. This cost of money is defined as 'Cost of Capital" in financial terms and is the "Discounting factor" in our example.
After understanding the discount factor, next question is how to know the cost of money. Money (cash) utilised for investment purpose can be generated from IMA chrysalis may 2008 edition 15
two ways: Equity capital and Debt capital. If we can calculate the cost of both type of capital and add them in their weight ages then we can get total cost of money, which is also known as "Weighted Average Cost of Capital" (WACC) in finance language. Cost of equity is calculated be certain formulas under different assumptions, for our purpose we can say that it is fixed. Now the cost of debt capital is the interest paid on the borrowed money. So if Rs.100 is borrowed at 5% interest p.a. cost of debt is 5%.
Assuming that the cost of equity is fixed (in practice it changes more frequently) which is 10% in our example and Rs. 5 crore is the equity capital and another Rs. 5 crore is debt capital at the cost of 10% then WACC comes 10% for the investment. Now if the cost of equity is fixed at 10% and the WACC comes to 9%, which means cost of debt, have been reduced to 8% from 10%. Thus the reduction in interest rate reduces the cost of debt that makes project a wealth-creating proposition. Thus financially it is proven that the reduction in interest creates wealth. With reduction of interest rates, many projects, which are marginal cases in the economy where even a reduction of 500 basis points will prove them viable, will start and thus the entire economy will see a swing in its investment activities.
In the above example we reduced the cost of debt and kept the cost of equity fixed, but why can't we reduce the cost of equity and have fixed cost of debt thus maintaining the same interest rates in the economy. If we consider the reduction in equity rate that means we are reducing the returns generated on equity capital that will ultimately lead to the less investments and therefore less probability of wealth creation. Secondly, equity returns are the motivating factors for entrepreneurship; it's the high return that prompts people to take risk. Equity returns are also not centrally controlled just like interest rates where central bank of any country plays a major role; it depends upon individual promoter or firm's expectations, which may vary. Thus we see that low interest rates help the process of wealth creation in the economy, as people are ready to take high risk for high equity returns.
- S.Srinivasa (Faculty Accounts)
Let's understand the concept of "Time Value of Money". Financial authorities explain it in very simple terms like one rupee of today is more valuable than one rupee of tomorrow. It actually means given a choice anybody will prefer to receive one rupee today than receiving it tomorrow. Two points supports this concept.
Firstly, anyone gets a rupee today he can put it in a bank and get interest on it. Secondly, if anybody spends that rupee today then he gets more goods in one rupee as compared to the number of goods he will get if he prefers to spend that one rupee a day later. The implicit assumption behind the second point is that most economies have inflation, means prices of goods and services increases with time.
Time value of Money concept is the fundamental concept behind the "Present Value of Money". Present Value of Money is calculated for knowing the viability of wealth creation. This exercise in finance is known as IMA chrysalis may 2008 edition 14
"Capital Budgeting" exercise. Simply put if anyone makes an investment today and receives benefits in future over a number of years, then the benefit received in future should be more than the cost of the investment, then we say that investment is viable or wealth is being created.
Investment done is denominated in terms of money invested and benefits received are also denominated in terms of money received. Since we know that money received today is better than the money received a year later, we compare today's money with the money received in future by taking present value of future money. To know present value of future money principle of discounting is applied. As today's money is higher in value than future money therefore future money is discounted by a discount factor, which will make future money comparable to today's money. Let's see how it is practically done.
Suppose we invest Rs.10 crores today and our time horizon is 3 years. In I year we get Rs.3 crore, in II year we get another Rs.6 crore and in III year we get Rs.3 crore as benefits. For the time being just takes into consideration that discount factor is 10%. Therefore; 10 = 3 / (1.1) + 6 / (1.1) 2 + 3 (1.1) 3 = 9.94 (approx.)
This means that even though the investment of Rs.10 crore gives total benefits of Rs.12 crore over a period of three years but when this Rs.12 crore is compared in their present value, then this is only Rs.9.94 crore which is less than Rs.10 crore. Conclusion drawn is that this investment is eroding wealth and therefore not desirable.
The important point to consider here is that we took a discount factor of 10%; instead of that now we take a discount factor of 9% and see the calculations. 10 = 3 / (1.09) + 6 / (1.09) 2 + 3 (1.09)2 = 10.12 (approx.)
This means that investment of Rs.10 crore gives total benefits of Rs.12 crore over a period of three years and a benefit of Rs.10.12 crore when compared in their present value, which is more than Rs.10 crore. Conclusion drawn is that this investment is creating wealth and therefore desirable.
It seems strange that by changing just one mathematical number (discount factor) in our example, we have turn- around a wealth eroding investment to a wealth-creating proposition. (In actual it is not so easy to do that) Point, which I would like to emphasize here, is that the discount factor plays a very important role in wealth creating process. The obvious question is what this discount factor means?
As I have already mentioned earlier that wealth is created when benefits received (in money terms) is more than the cost of resources. As we all know that many resources are utilised like man, machine, materials, minutes, etc. but all these resources can be converted into one common resource for simple understanding and for comparison purpose that is money. Therefore going by definition, the cost of money should be less that the total money received in future to create wealth. This cost of money is defined as 'Cost of Capital" in financial terms and is the "Discounting factor" in our example.
After understanding the discount factor, next question is how to know the cost of money. Money (cash) utilised for investment purpose can be generated from IMA chrysalis may 2008 edition 15
two ways: Equity capital and Debt capital. If we can calculate the cost of both type of capital and add them in their weight ages then we can get total cost of money, which is also known as "Weighted Average Cost of Capital" (WACC) in finance language. Cost of equity is calculated be certain formulas under different assumptions, for our purpose we can say that it is fixed. Now the cost of debt capital is the interest paid on the borrowed money. So if Rs.100 is borrowed at 5% interest p.a. cost of debt is 5%.
Assuming that the cost of equity is fixed (in practice it changes more frequently) which is 10% in our example and Rs. 5 crore is the equity capital and another Rs. 5 crore is debt capital at the cost of 10% then WACC comes 10% for the investment. Now if the cost of equity is fixed at 10% and the WACC comes to 9%, which means cost of debt, have been reduced to 8% from 10%. Thus the reduction in interest rate reduces the cost of debt that makes project a wealth-creating proposition. Thus financially it is proven that the reduction in interest creates wealth. With reduction of interest rates, many projects, which are marginal cases in the economy where even a reduction of 500 basis points will prove them viable, will start and thus the entire economy will see a swing in its investment activities.
In the above example we reduced the cost of debt and kept the cost of equity fixed, but why can't we reduce the cost of equity and have fixed cost of debt thus maintaining the same interest rates in the economy. If we consider the reduction in equity rate that means we are reducing the returns generated on equity capital that will ultimately lead to the less investments and therefore less probability of wealth creation. Secondly, equity returns are the motivating factors for entrepreneurship; it's the high return that prompts people to take risk. Equity returns are also not centrally controlled just like interest rates where central bank of any country plays a major role; it depends upon individual promoter or firm's expectations, which may vary. Thus we see that low interest rates help the process of wealth creation in the economy, as people are ready to take high risk for high equity returns.
- S.Srinivasa (Faculty Accounts)
NAILS TELLS THEIR TALES
Marks on nail tells very important information according to palmistry Usually white marks are good(or neutral) and black marks are bad Here are some information about marks on nail:-
White mark on middle finger nail Shows journey
Black mark on middle finger nail Loss of reputation and indignity
White mark on ring finger nail Honour and wealth
Black mark on ring finger nail Shadow of coming sad event
White mark on index finger nail Gain and profit
Black mark on index finger nail Loss and sorrow
White mark on little finger nail Success in commercial enterprises
Black mark on little finger nail Business failure .
-Rohit Mittal(G)
White mark on middle finger nail Shows journey
Black mark on middle finger nail Loss of reputation and indignity
White mark on ring finger nail Honour and wealth
Black mark on ring finger nail Shadow of coming sad event
White mark on index finger nail Gain and profit
Black mark on index finger nail Loss and sorrow
White mark on little finger nail Success in commercial enterprises
Black mark on little finger nail Business failure .
-Rohit Mittal(G)
Mr. & Ms. Personality
The 'Mr. & Miss Personality' contest was conducted on 22nd May, the criteria being academic excellence, co-curricular activities, communication skills and class interaction. Based on these guidelines, Mr Personality & Miss Personality were crowned from each division. Motto behind the contest was to boost up the confidence & encourage involvement in professional Arena by Future Managers.
Section-A
Ritika & Vijay
Section-B
Bitopee & Niloy
Section-C
Ankita & Abhinav
Section-D
Pooja & Abhishek
Section-E
Avneet & Allen
Section-F
Ashita & Raman
Section-G
Prabhjot & Deepak
Section-A
Ritika & Vijay
Section-B
Bitopee & Niloy
Section-C
Ankita & Abhinav
Section-D
Pooja & Abhishek
Section-E
Avneet & Allen
Section-F
Ashita & Raman
Section-G
Prabhjot & Deepak
Depth of Love
Love is a single word but it carries many deep feelings within itself. These are caring, understanding, devotion, dedication, respect for each other, and sense of responsibility, thereby making this feeling so powerful and incredible. The feeling of love comes instantly in a person’s heart and it has the power to merge an individual within itself. Love: a four letter word which fills everybody’s heart with smile, happiness and joy. It is a delicate thread which binds two people in such a strong relation. It makes life so beautiful.
Everything around you seems to blossom. Love brings meaning to ones life. It makes you feel special in its own way. You just can’t stop thinking about your beloved. When you are in love you can never be lonely wherever you go. Love is when you want to be with your soul mate every time and everywhere. Love makes each day worth getting up for. It’s magic. It can do wonders. It is the feeling of heart not mind. Love quotes have become a necessity in today’s life. One can send love quotes to his or her lover to make him or her special in your own way. This is the best way to convey your feelings to your sweetheart. Send these love quotes to your honey and let her know how much you love her.
The language of love can be expressed in so many ways, through talking, through writing your feelings in words, with just a smile, with an understanding glance, with a warm touch and sometimes through mere silence. Love doesn’t have any age limits. A person of any age can fall in love. A teenager can fall in love as well as a adult above 40 can also fall in love. Love can happen in first sight and many a times it can take years to develop but a person having this immense feeling of love within him feels on the top of the world. Love doesn’t have any boundaries and it is never planned. You will meet a person and your heart will start popping up and will say "yes he/she is the one".
When you are in love, you love talking to that person for hours, want to stay away from crowd in your own world, thinking about your lover always, dream to be with your love, laugh with him/her, cry with him/her, sharing your feeling with the one, imagine beautiful things, lovely thoughts, these wonderful feelings are always there in your mind and heart and you love to be with these feelings. To make a relationship life long, one thing you should always keep in your mind that there should not be any conditions in love because conditions always ruin the relationship. There should be the feeling of trust, faith and respect and you will see life is so smooth, more than you can ever think of. Thus to carry a relationship you should nourish the relation with care and understanding and don’t let ego come in between. Love is never destroyed, as it is a relation, which has been made FOREVER.
-Himmat Gori (B)
Everything around you seems to blossom. Love brings meaning to ones life. It makes you feel special in its own way. You just can’t stop thinking about your beloved. When you are in love you can never be lonely wherever you go. Love is when you want to be with your soul mate every time and everywhere. Love makes each day worth getting up for. It’s magic. It can do wonders. It is the feeling of heart not mind. Love quotes have become a necessity in today’s life. One can send love quotes to his or her lover to make him or her special in your own way. This is the best way to convey your feelings to your sweetheart. Send these love quotes to your honey and let her know how much you love her.
The language of love can be expressed in so many ways, through talking, through writing your feelings in words, with just a smile, with an understanding glance, with a warm touch and sometimes through mere silence. Love doesn’t have any age limits. A person of any age can fall in love. A teenager can fall in love as well as a adult above 40 can also fall in love. Love can happen in first sight and many a times it can take years to develop but a person having this immense feeling of love within him feels on the top of the world. Love doesn’t have any boundaries and it is never planned. You will meet a person and your heart will start popping up and will say "yes he/she is the one".
When you are in love, you love talking to that person for hours, want to stay away from crowd in your own world, thinking about your lover always, dream to be with your love, laugh with him/her, cry with him/her, sharing your feeling with the one, imagine beautiful things, lovely thoughts, these wonderful feelings are always there in your mind and heart and you love to be with these feelings. To make a relationship life long, one thing you should always keep in your mind that there should not be any conditions in love because conditions always ruin the relationship. There should be the feeling of trust, faith and respect and you will see life is so smooth, more than you can ever think of. Thus to carry a relationship you should nourish the relation with care and understanding and don’t let ego come in between. Love is never destroyed, as it is a relation, which has been made FOREVER.
-Himmat Gori (B)
I LOVE YOU
I LOVE YOU. … ..
But for what I am,
When I am with you,
I love you … …
From the bottom of my heart,
And I will always do,
I left every thing for you,
Because I trust you,
I love you … …
I never know … …
How am i living without you,
This is the feeling I have,
When ever the wind blow,
I love you … …
Never draw a heart around the person you love,
But draw a circle instead,
Because hearts can be broken,
but circle never ends.
- DIPIKA SAINI (D)
Dimensions
THREE LAW’S OF GIRLFRIENDS-
1. They can neither be created nor be DESTROYED-- because they are made in HEAVEN… but inherently push you to HELL.
2. You always try to DRIVE SMOOTH …….but FRICTION is always there ……..and it generates lot of HEAT too… (May God save ur souls).
3. All your actions will have an equal and OPPOSITE reactions.( Be alert)
FIVE DIMENSIONS OF A GIRL FRIEND-
1. aggressive
2. unreliable
3. sympathetic
4. intangible
5. faithless (in you)
HOW TO HANDLE DIFFICULT GIRL FRIENDS
Be prompt
2. Be specific
3. Be concise
4. Always say sorry
5. Don’t maintain eye contact ( or else you know better)
6. Remember she is always right in every case.
7. last but not the least …. Don’t blame God…… its ur destiny…. Face it.
-Jaiprateek, Shweta, Deepak, Dipika (D)
1. They can neither be created nor be DESTROYED-- because they are made in HEAVEN… but inherently push you to HELL.
2. You always try to DRIVE SMOOTH …….but FRICTION is always there ……..and it generates lot of HEAT too… (May God save ur souls).
3. All your actions will have an equal and OPPOSITE reactions.( Be alert)
FIVE DIMENSIONS OF A GIRL FRIEND-
1. aggressive
2. unreliable
3. sympathetic
4. intangible
5. faithless (in you)
HOW TO HANDLE DIFFICULT GIRL FRIENDS
Be prompt
2. Be specific
3. Be concise
4. Always say sorry
5. Don’t maintain eye contact ( or else you know better)
6. Remember she is always right in every case.
7. last but not the least …. Don’t blame God…… its ur destiny…. Face it.
-Jaiprateek, Shweta, Deepak, Dipika (D)
Market Everywhere
It's an era of marketing. And in this age of marketization today's marketer haven’t left anything or anyone. That’s why on 14th February, people are supposed to express their love, but not bare handed, but with costly gifts available in market and the 'rare' red roses available that day, whose price can also make the price of normal days bouquet seem less. Recently one of my friend also persuaded me to send my mom a gift or card on Mothers' day. And quite a few more days are there on which you can show your love or care by splurging. Why so ??? Do we have to wait for one particular day to express love for our beloveds? Can we only show our love to our parents by sending them something on one particular day decided by someone whom we are not even aware of? Does it in any way affect our love for our parents? If that was not enough, I realized that God is also not unaffected by this recent wave of marketization.
It was a beautiful evening of one of our much awaited weekends when I decided to visit the most famous temple at Bangalore with 3 of my friends from IMA. The desire to reach the main hall kept on increasing as we reached there and saw the beautiful temple from outside. Just a few steps walk and we were there, in fact, almost there, as we were behind a long queue. It hardly matters really as in God's home the waiting in a queue is immaterial.. Also on each step we were to chant "Hare Krishna Hare Rama" which we did gleefully.
However it was now, when the real problem started. As we were already in queue for almost half an hour, we saw some people passing through the other way in which they were not even required to be in line, not needed to chant and directly heading to the main premises. Oh, I realized these must be the people who have spent bucks for "The Special Darshan" for which we too were persuaded by some of the staff members of temple while entering. Moreover those who paid for the special darshans could go near to the idols, sit there for 5 minutes in front of them. And those who hadn't paid for special darshan could only be there for 5 seconds or so while going through a queue at double the distance from the special people sitting inside. So does this means that "all are not equal at God's home" as told to us till now? Does it make me more worthy to reach to God if I pay for special darshan? And will it affect his blessing towards us in anyway? Then why this discrimination is there??
It is true that profits are the very basic of every business. However, while going blindly for money one should understand that there are a few things beyond money also viz. love, affection, care, relations and also GOD !!!!!
-Mayank Chaturvedi (A)
It was a beautiful evening of one of our much awaited weekends when I decided to visit the most famous temple at Bangalore with 3 of my friends from IMA. The desire to reach the main hall kept on increasing as we reached there and saw the beautiful temple from outside. Just a few steps walk and we were there, in fact, almost there, as we were behind a long queue. It hardly matters really as in God's home the waiting in a queue is immaterial.. Also on each step we were to chant "Hare Krishna Hare Rama" which we did gleefully.
However it was now, when the real problem started. As we were already in queue for almost half an hour, we saw some people passing through the other way in which they were not even required to be in line, not needed to chant and directly heading to the main premises. Oh, I realized these must be the people who have spent bucks for "The Special Darshan" for which we too were persuaded by some of the staff members of temple while entering. Moreover those who paid for the special darshans could go near to the idols, sit there for 5 minutes in front of them. And those who hadn't paid for special darshan could only be there for 5 seconds or so while going through a queue at double the distance from the special people sitting inside. So does this means that "all are not equal at God's home" as told to us till now? Does it make me more worthy to reach to God if I pay for special darshan? And will it affect his blessing towards us in anyway? Then why this discrimination is there??
It is true that profits are the very basic of every business. However, while going blindly for money one should understand that there are a few things beyond money also viz. love, affection, care, relations and also GOD !!!!!
-Mayank Chaturvedi (A)
News da Banca
Mr. K. V. Kamath is the new CII President
Mr K. Vaman Kamath, Managing Director and CEO, ICICI Bank, has been elected as Confederation of Indian Industries (CII) as President for 2008-09. He succeeds Mr Sunil Bharti Mittal. Mr Venu Srinivasan, Managing Director, Sundaram-Clayton Ltd, is the Vice-President.
NEFT Services started for Nepal
RBI operationalized a one-way funds transfer mechanism between India & Nepal. This service can be offered by more then 44,000 bank branches across the country that participate in National Electronic Fund Transfer (NEFT) in India. The transferable amount has been capped at Rs 50,000.
ICICI Bank FY'08 net up 34 pc
India's largest private sector lender ICICI Bank posted a 34 per cent rise in net profits in FY'08 at Rs 4,158 crore against Rs 3,110 crore last year. A healthy growth of 27 per cent in net interest income and 32 per cent in fee income has contributed to net profit growth. The board has recommended a dividend of 110 per cent or Rs 11 per equity share.
CCIL to guarantee forward contracts, rate futures
Clearing Corporation of India Ltd.(CCIL) has developed two new products which will guarantee forward contracts and over the counter(OTC) interest rate future. This move will boost trading in interest rate derivatives. Banks are major participant in this trading.
Nod for realty Mfs
Securities and Exchange Board of India (SEBI) has given the go-ahead to Real Estate Mutual Funds(REMFs). In its guideline for REFMs SEBI has mandated that at least 35% of the corpus should be invested directly in real estate assets and rest in Mortgage Based securities (MBS) of real estate companies. All the schemes will be close ended.
- Krishna Kumar (A)
Mr K. Vaman Kamath, Managing Director and CEO, ICICI Bank, has been elected as Confederation of Indian Industries (CII) as President for 2008-09. He succeeds Mr Sunil Bharti Mittal. Mr Venu Srinivasan, Managing Director, Sundaram-Clayton Ltd, is the Vice-President.
NEFT Services started for Nepal
RBI operationalized a one-way funds transfer mechanism between India & Nepal. This service can be offered by more then 44,000 bank branches across the country that participate in National Electronic Fund Transfer (NEFT) in India. The transferable amount has been capped at Rs 50,000.
ICICI Bank FY'08 net up 34 pc
India's largest private sector lender ICICI Bank posted a 34 per cent rise in net profits in FY'08 at Rs 4,158 crore against Rs 3,110 crore last year. A healthy growth of 27 per cent in net interest income and 32 per cent in fee income has contributed to net profit growth. The board has recommended a dividend of 110 per cent or Rs 11 per equity share.
CCIL to guarantee forward contracts, rate futures
Clearing Corporation of India Ltd.(CCIL) has developed two new products which will guarantee forward contracts and over the counter(OTC) interest rate future. This move will boost trading in interest rate derivatives. Banks are major participant in this trading.
Nod for realty Mfs
Securities and Exchange Board of India (SEBI) has given the go-ahead to Real Estate Mutual Funds(REMFs). In its guideline for REFMs SEBI has mandated that at least 35% of the corpus should be invested directly in real estate assets and rest in Mortgage Based securities (MBS) of real estate companies. All the schemes will be close ended.
- Krishna Kumar (A)
“The person who believes in Next practices not in Best practices”
I came to know about Mr. C. K. Prahalad, the famous Management Guru when I was doing my MBA at NSVKMS, MBA College. Like any other B-School student, Mr. Prahalad became my inspiration after I heard about him. I always wanted to see him in person one day. When I was in 4th semester, I got an opportunity to see and listen to him face to face at IIM, Ahmadabad. He usually comes to IIM-A every year where he discusses on particular topics related to his research works. I have attended one of his talks on "Changing the Rules of the Game: India's Role in the Global Industries" at IIM-A in February 2006 organized by Ahmadabad Management Association (AMA). After listening to him there, I got more and more interested in his works. His ideas are unique, innovative and are yet practical in its approach. His thoughts became fresh in my mind when there was a discussion about his contributions in one of the virtual classes here in IMA.
C. K. Prahalad
Professor, Ross School of Business, University of Michigan Born August 1, 1950, Coimbatore Krishnarao Prahalad is the best known management guru from India. He is a management consultant, author, and the Paul and Ruth McCracken Distinguished University Professor of Corporate Strategy at Ross School of Business, University of Michigan. Mr. Prahalad studied and taught at IIM, Ahmadabad before moving to US. He wrote a doctoral thesis on multinational management at Harvard Business School.
His books: -
The New Age of Innovation: Driving Co-created Value Trough Global Networks (latest, Co-authored with M. S. Krishnan)
The fortune at the bottom of the Pyramid (August 25, 2004)
Competing for the future (Co-authored with Gary Hamel)
The Future of Competition: Co-Creating Unique Value with Customers (2004 - co-authored with Venkat Ramaswamy)
In search of excellence
Multinational Mission: Balancing Local Demands and Global Vision (1987)
Some concepts that I like and usually is interesting about him are.............
Bottom of the Pyramid (BOP):
In economics, the bottom of the pyramid is the largest, but poorest socio-economic group. In global terms, this is the four billion people who live on less than $2 per day, typically in developing countries. "The Fortune at the Bottom of the Pyramid" by Mr. Prahalad focused on market potential available in this segment .
Core competency
Core competency is something that a firm can do well and that meets the following three conditions:
1.It provides consumer benefits
2.It is not easy for competitors to imitate
3.It can be leveraged widely to many products and markets.
The concept of core competencies was developed in the management field. C.K. Prahalad and Gary Hamel introduced the concept in a 1990 Harvard Business Review article. They wrote that a core competency is "an area of specialized expertise that is the result of harmonizing complex streams of technology and work activity.
Two pillars of the next generation of innovations: N=1 and R=G
N=1 stands for one consumer experience at a time, treating every consumer as unique, and R=G for all the resources that need to be tapped from multiple vendors and around the world to satisfy the experiences of one consumer at a time.
- Harshadkumar V. (C)
C. K. Prahalad
Professor, Ross School of Business, University of Michigan Born August 1, 1950, Coimbatore Krishnarao Prahalad is the best known management guru from India. He is a management consultant, author, and the Paul and Ruth McCracken Distinguished University Professor of Corporate Strategy at Ross School of Business, University of Michigan. Mr. Prahalad studied and taught at IIM, Ahmadabad before moving to US. He wrote a doctoral thesis on multinational management at Harvard Business School.
His books: -
The New Age of Innovation: Driving Co-created Value Trough Global Networks (latest, Co-authored with M. S. Krishnan)
The fortune at the bottom of the Pyramid (August 25, 2004)
Competing for the future (Co-authored with Gary Hamel)
The Future of Competition: Co-Creating Unique Value with Customers (2004 - co-authored with Venkat Ramaswamy)
In search of excellence
Multinational Mission: Balancing Local Demands and Global Vision (1987)
Some concepts that I like and usually is interesting about him are.............
Bottom of the Pyramid (BOP):
In economics, the bottom of the pyramid is the largest, but poorest socio-economic group. In global terms, this is the four billion people who live on less than $2 per day, typically in developing countries. "The Fortune at the Bottom of the Pyramid" by Mr. Prahalad focused on market potential available in this segment .
Core competency
Core competency is something that a firm can do well and that meets the following three conditions:
1.It provides consumer benefits
2.It is not easy for competitors to imitate
3.It can be leveraged widely to many products and markets.
The concept of core competencies was developed in the management field. C.K. Prahalad and Gary Hamel introduced the concept in a 1990 Harvard Business Review article. They wrote that a core competency is "an area of specialized expertise that is the result of harmonizing complex streams of technology and work activity.
Two pillars of the next generation of innovations: N=1 and R=G
N=1 stands for one consumer experience at a time, treating every consumer as unique, and R=G for all the resources that need to be tapped from multiple vendors and around the world to satisfy the experiences of one consumer at a time.
- Harshadkumar V. (C)
A SMILE which speaks THOUSAND LANGUAGES
Smile costs nothing but gives much. It enriches those who receive, without making poorer those who give. It takes but a moment, but the memory of it sometimes lasts forever. None is so rich or mighty that he cannot get along without it and none is so poor that he cannot be made rich by it. Yet a smile cannot be bought, begged, borrowed, or stolen, for it is something that is of no value to anyone until it is given away. Some people are too tired to give you a smile.
Give them one of yours, as none needs a smile as much as he who has no more to give. No matter how grouchy you're feeling, you all find the smile more or less healing. It grows in a wreath all around the front teeth thus preserving the face from congealing. If you would like to spoil the day for a grouch, give him a smile. Of all the things you wear, your expression is the most important. Youare never fully dressed without a smile. Wear a smile and have friends; wear a scowl and have wrinkles. Wear a smile - one size fits all. It takes a lot of work from the face to let out a smile, but just think what good smiling can bring to the most important muscle of the body... the heart. It takes seventeen muscles to smile and forty-three to frown.
Smiling is my favourite exercise. If you don't start out the day with a smile, it's not too late to start practicing for tomorrow. A smile is which that can brighten my darkest day. Always remember to be happy because you never know who's falling in love with your smile. If you don't have a smile, I'll give you one of mine. At last the „SMILE which I learned AT IMA, in a different meaning: Smiling is infectious; You can catch it like the flu. Someone smiled at me today, And I started smiling too.
- PREETI RAWAT (E)
Give them one of yours, as none needs a smile as much as he who has no more to give. No matter how grouchy you're feeling, you all find the smile more or less healing. It grows in a wreath all around the front teeth thus preserving the face from congealing. If you would like to spoil the day for a grouch, give him a smile. Of all the things you wear, your expression is the most important. Youare never fully dressed without a smile. Wear a smile and have friends; wear a scowl and have wrinkles. Wear a smile - one size fits all. It takes a lot of work from the face to let out a smile, but just think what good smiling can bring to the most important muscle of the body... the heart. It takes seventeen muscles to smile and forty-three to frown.
Smiling is my favourite exercise. If you don't start out the day with a smile, it's not too late to start practicing for tomorrow. A smile is which that can brighten my darkest day. Always remember to be happy because you never know who's falling in love with your smile. If you don't have a smile, I'll give you one of mine. At last the „SMILE which I learned AT IMA, in a different meaning: Smiling is infectious; You can catch it like the flu. Someone smiled at me today, And I started smiling too.
- PREETI RAWAT (E)
"Sweet Slumber"
When I dive into the deep strata of sleep,
The mesmerizing moments are definitely for keep.
Leaving behind an absolute arena of grand and splendour,
Caressing the body & mind With Love and Tender.
Drowsily forgetting the Cares of life; And forgiving those,
Who taunt & jibe. Wandering into the sublime ambience of dreams,
To only tame the Dream land and its realms.
Avalanche of answers being poured, On questions long un-answered,
To pacify the tides of self and ensure, are dissolved.
Relishing every moment of honeyed comatose,
And realise that for man Sleep is the best Dose!
- Sharmistha Ghosh (E)
FOOD PYRAMID
Since all of us are away from our homes, and there is no one like our mom here, to take care of our diet, therefore we need to have little bit of know how of good food habits. Thus, it gave me a good opportunity to share my knowledge with everyone. So, let's try and learn certain basics and start with the food pyramid.
Food Pyramid is a pictorial representation of balanced diet. It suggests optimal nutrition guidelines for each food category, per day, using a mnemonic graphic of a pyramid with horizontal dividing lines to represent suggested percentages of the daily diet for each food group. In simpler words it means, Food Pyramid helps people to understand how to eat healthy and wise in very easy way. We should eat more of the food items that are present at the base and slowly decreasing the amounts of food items that are present at the top of the pyramid.
Food Groups According to Food pyramid
Bread, Cereal, Rice, and Pasta Group - They should form the foundation of one’s diet as
they provide the major portion of our daily energy needs. Cereals include whole wheat flour (atta), rice, bread, cornflakes, pastas, refined wheat flour (maida). We should prefer to consume things made out of whole wheat flour and avoid things made out of refined wheat flour .
Vegetable Group - Vegetables contain loads of vitamins and minerals, so it is important to eat a wide variety of them.
Fruit Group - Fruits are low in calories and fat and are a source of natural sugars, fiber and vitamins. They may be fresh, frozen, canned, dried, or made into juice.
Milk, Yogurt, and Cheese Group – They are the best source for the mineral calcium, but also provide protein, phosphorus, vitamin A.
Meat, Poultry, Fish, Dry Beans, Eggs, and Nuts Group – Meat is a major source of protein, iron, zinc and vitamin B12. All these nutrients can also be found in foods like eggs, dry beans and nuts so these are placed in same category as meats as meat alternatives. These include tofu, soy, eggs and cheeses. Meats provide energy and nutrients but they are high in fat and cholesterol. So, we should consume them less, or alternatives are recommended.
-Harsh Bhatia (D)
Food Pyramid is a pictorial representation of balanced diet. It suggests optimal nutrition guidelines for each food category, per day, using a mnemonic graphic of a pyramid with horizontal dividing lines to represent suggested percentages of the daily diet for each food group. In simpler words it means, Food Pyramid helps people to understand how to eat healthy and wise in very easy way. We should eat more of the food items that are present at the base and slowly decreasing the amounts of food items that are present at the top of the pyramid.
Food Groups According to Food pyramid
Bread, Cereal, Rice, and Pasta Group - They should form the foundation of one’s diet as
they provide the major portion of our daily energy needs. Cereals include whole wheat flour (atta), rice, bread, cornflakes, pastas, refined wheat flour (maida). We should prefer to consume things made out of whole wheat flour and avoid things made out of refined wheat flour .
Vegetable Group - Vegetables contain loads of vitamins and minerals, so it is important to eat a wide variety of them.
Fruit Group - Fruits are low in calories and fat and are a source of natural sugars, fiber and vitamins. They may be fresh, frozen, canned, dried, or made into juice.
Milk, Yogurt, and Cheese Group – They are the best source for the mineral calcium, but also provide protein, phosphorus, vitamin A.
Meat, Poultry, Fish, Dry Beans, Eggs, and Nuts Group – Meat is a major source of protein, iron, zinc and vitamin B12. All these nutrients can also be found in foods like eggs, dry beans and nuts so these are placed in same category as meats as meat alternatives. These include tofu, soy, eggs and cheeses. Meats provide energy and nutrients but they are high in fat and cholesterol. So, we should consume them less, or alternatives are recommended.
-Harsh Bhatia (D)
Saturday, June 28, 2008
Book Review 'The Argumentative Indian'
There is no doubt that Indians have a long and colorful tradition of arguing. India grew as a center of learning partly due to this tradition and also due to the relatively high tolerance level amongst its people. Usually thought of only for its spiritualism and mysticism, Indian culture has in fact developed from the skeptical and reasoning nature of its individuals.
Being a country of vast diversity as well as disparity, with a wide range of cultures, languages, traditions and point of views, discussions often take the form of arguments.
Amartya Sen’s The Argumentative Indian: Writings on Indian History, Culture and Identity, consists of sixteen essays on varied topics, which attempt to decipher and understand this tradition of arguing. They cover subjects concerning ancient India, our relations with China in the first millenium, contemporary Hindu politics, the Indian calendar system, films of Satyajit Ray and debates between Rabindranath Tagore and Mohandas Gandhi. It is all about Indian identity.
Illuminated with examples from the teachings
and lives of emperors such as Akbar and Ashoka, with illustrations from the epics, The Ramayana and The Mahabharata, and a staggering range of other references, he propounds a view of Hinduism as an inclusive philosophy rather than an exclusionist, divisive religion. This view of Hinduism is mature enough and magnanimous enough to accommodate dissenting views and ‘even profound scepticism’.One of the book’s many highlights is its tone. Sen does not indulge in triumphalism about his country’s past; nor does he spare Western influences (like James Mill’s History of British India) that have oversimplified and distorted the Indian reality.
This book has a superlative reach and moral vision-spanning history, cultural studies and political economy. Prof. Sen views reverberate with great kings like Ashoka, Akbar and India's visionary first Prime Minister Jawaharlal Nehru. His book serves as good source of inspiration for the younger generation to better understand how India's greatness lies in its diversity and tolerance towards people of all countries, caste, creed, religion and color.
Reformer, Ram Mohun Roy considered not being able to argue back as the worst thing about death.
“Just consider how terrible the day of your death will be. Others will go on speaking, and you will not be able to argue back.”
Renndezvous with former Director Brig. Grewal
Full Name: Rajwant Singh Grewal
Date of Birth: February 11, 1946
Educational Qualification: M Sc, PhD. Recognised as a guide for PhD by University of Madras.
Work Experience: 35 years in Indian Army; 6 years with Manipal Group in various capacities viz Director, Sikkim Manipal Institute of Technology; Pro Vice Chancellor, Sikkim Manipal University of Health, Medical and Technological Sciences; Director, ICICI Manipal Academy for Banking and Insurance.
About Your Career in the Army:
Date of Birth: February 11, 1946
Educational Qualification: M Sc, PhD. Recognised as a guide for PhD by University of Madras.
Work Experience: 35 years in Indian Army; 6 years with Manipal Group in various capacities viz Director, Sikkim Manipal Institute of Technology; Pro Vice Chancellor, Sikkim Manipal University of Health, Medical and Technological Sciences; Director, ICICI Manipal Academy for Banking and Insurance.
About Your Career in the Army:
Joined National Defence Academy in June 1963; Commissioned in to Madras Engineer Group & Centre of the Corps of Engineers in 1967; Apart from holding various executive appointments was also a member of faculty at the College of Military Engineering and also at Defence Services Staff College, Wellington. Was Head Faculty of Civil Engineering at College of Military Engineering; Served as Chief Engineer in the Border Roads Organisation; Was also the Commandant of Madras Engineer Group and Centre, Bangalore. Attended the prestigious course at National Defence College at New Delhi. Awarded the Vishist Sewa Medal while serving with Border Roads Organisation.
What Motivated You to Join Academics?
What Motivated You to Join Academics?
That is an interesting question. There is a misconception in the minds of general public that Army personnel are far removed from academics. Very few people know that an Army officer spends considerable time studying while attending various courses of instruction. Further, while in the Army, I had spent almost one third of my career in various teaching assignments. Somehow, I always wanted to study and had made it a point to learn something new at each station that I was posted to. Thus, I earned my PhD without even availing the privilege of study leave that I could have done. You will be surprised that as a junior officer, I attended an evening school run by Tamil community for their children at Pune. Though I was an Army officer I sat with children in a primary school to learn Tamil. Thus, today I can read, write and speak Tamil.
What are the Differences between the Present Day Youth and Youth of Your Generation?
What are the Differences between the Present Day Youth and Youth of Your Generation?
Due to vastly different environments in which the two generations have grown up you cannot make a fair comparison. Our generation grew up in the bicycle-age if not in the bullock cart-age! The present generation of youth was born after the man had already landed on the moon in 1969! Thus, obviously, there has to be a vast difference in the outlook of the two generations and the way they approach various issues. In the early 60s the euphoria of gaining independence from the colonial rule, the scars of partition of the country, the after effects of World War II – remember Hiroshima and Nagasaki - were still fresh in the memory of general public. Our national leaders were still honest and we looked at them with awe and reverence. However, the environment has changed and the present day youth, perhaps rightly so, do not hold the vast majority of our national leaders in the same esteem. Then, there is the technology gap that has helped the young generation to be tech-savvy and has endowed it with multi-tasking capabilities. Our generation was much more patient. The youth of the present generation wants every thing instantly. Why, they not only want fast food but also instant knowledge! One could go on and on. The differences are far too many to recount.
Your Vision for IMA:
Your Vision for IMA:
I feel that the purpose of education should be to unsettle the minds of the young and to inflame their intellects. Thus, the education we provide should help our students realize their potentials. IMA, therefore, should not only open the doors of opportunity for our students but should also equip them to walk through those doors. I am certain that if we are able to achieve this, IMA will stand apart as an institution in the country with its own ethos and brand name.
Something about Your Experience at IMA till now:
Something about Your Experience at IMA till now:
IMA was conceived and established in a compressed time frame that was very ambitious. Thus, there were some teething troubles. However, I must appreciate the faculty and the other support staff who did not let these impediments over awe them and worked tirelessly to realize the dream of the planners. IMA seems to be on the right path and I am certain that over a period of time it will earn its deserved spot in the fraternity of elite institutions providing management training to the budding bankers. Personally for me, it has been a wonderful experience to interact with the younger generation – it has helped arrest my aging process!!
What is Your Inspiration in Life?
What is Your Inspiration in Life?
I feel that to be successful one should always be prepared to learn. I have always tried to learn not only from my seniors but also from my peers and juniors. The will to always learn something new keeps me going.
Your Message to Budding Bankers of IMA:
Your Message to Budding Bankers of IMA:
I would like them to remember that knowledge is the only asset that is not subject to diminishing returns. If they persevere and advance sincerely and confidently in the direction of their dreams, they would meet with success.
Rendezvous with Dean
Full Name- T R ShastriDate of Birth- 9.6.1951
Qualification-
M.Sc. CAIIB ACIB (London); second rank in University, distinction in management accountancy in ACIB (London).
Work Experience- 35 years (28 years in banking; 3 years consultancy; 4 years teaching). My years of banking were in credit and forex areas. I was the head of international treasury for seven years in the bank. I was and continue to be guest lecturer in many banks and institutions.
About your Books and Articles Published (In Brief) - Four of my books have been published so far – one authored by me and three edited by me. I write articles of all varieties in English and Kannada regularly. My technical articles have been published in news papers, magazines and professional publications. They generally are in the area of banking in particular in international trade and finance. My general articles are for casual reading around banking areas with an element of humor in them.
How long have you been associated with academics? How do you see IMA as Training Institution?
I started my career as a lecturer in a graduate college belonging to Manipal group. After my banking experience, I have been working in the academic field for the last over three years.
As you have worked with Indian and Foreign Banks both, what differences do you find between them?
I have worked in private and public sector banks in India and abroad. (I have not worked in any foreign bank, though I have attended a number of banking seminars and training programs abroad.) The government banks used to be rule bound rather than customer centric whereas the private sector banks used to have customer service as the primary goal. The distinction is steadily getting blurred. Incidentally most public sector banks are now partly owned by public shareholders, which demands better working results and customer orientation. Most importantly the market forces have made the banks compete. In the years to come, the original public sector banks may regain the reputation in customer service backed by a robust process already in place.
Three qualities or attributes that you feel are essential for success in Banking Sector.
As I mention regularly in the classes, a successful banker should have abundant common sense, ability to gel with people and a great vision.
Where do you see IMA five years from now?
Degree at IMA could become the industry standard at entry level itself replacing the traditional CAIIB exams as redundant, when the courses at IMA are open to other banks. Five years from now, more than half of the managerial staff of the ICICI Bank should be IMA products. More importantly, twenty five years from now, many of the CEOs of banks should be IMA alumni.
Your inspiration in life-
I always remember and constantly remind myself of the saying “be a cobbler but be the best cobbler”.
Your message for budding bankers at IMA-
Be a person of high integrity; there are difficult situations in day to day banking life and your integrity will protect you. Banking is not the most interesting job; cultivate good habits to make life enjoyable. Each one of you have the potential to reach the top; plan your career carefully.
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