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The Indian Woman- An average looking middle aged member of the female species characterized by disheveled hair and sweat streaming down her brow as she tries to think up yet another strategy to keep her litter occupied while taking note of the progress made by her culinary creations, which are simmering in the kitchen, in addition to maintaining a supervisory eye on the performance of the maid servant, and is mentally taking stock of the households current finances in order to determine the new budget, all this while ensuring that there no changes in the idyllic lifestyle enjoyed by her family - a typical moment in her uneventful life.


We may now ask ourselves who better to cope with the pressures of the boardroom than this traditional symbol of comeliness, this epitome of efficiency, tempered with a steel spine and a shrewd intellect and an endless supply of patience. Well this does bring us to another topic of debate as to exactly what may be acceptable under the broad heading of management.


Consider a definition of management as the effective and efficient utilization of resources in order to attain pre- defined goals by a group of individuals responsible to an organization. Looking at this description in a new light, can any of us deny the effectiveness of a housewife, whose aim is to ensure a comfortable life for her family using the limited means available while balancing the finances of the household, as an exemplary example of managerial efficiency?


If an organization be composed of several independent departments, like purchasing, finances etc., which function proactively in order to create wealth for the entire enterprise, the homemaker does not lag far behind in terms of the decision making and strategic empowerment that she wields in the domestic abstractions of these managerial power houses.


If we are to acknowledge management, it should not be contingent upon the fact that its efficiency should be quantifiable in terms of income or product value generated or by the size or nature of the institution in which it occurs. Applications of management should not be restricted to the monetary economy alone. Management extends itself to any kind of task or duty, it provides a measure for the effectiveness of the execution and also lends itself as an indicator to the quality of the job undertaken. Under such classification, shouldnt the average Indian homemaker be recognized nay lauded for her ability to manage the complex and close-knit clique of individuals, and maintain their well-being as well as a socially acceptable position in the community for them? Until such time as we learn to appreciate the pertness and acuity of the home maker, possessing minimal education, her acceptance into a boardroom is certainly under shadow of doubt.


Another facet of the argument leads us to the fact that men and women are fundamentally different. Research has unequivocally assured us of the fact that the thinking of a male is more one dimensional while that of a female is more conducive to multidimensional or abstract concepts, which equips them with a higher emotional quotient and therefore better at multitasking and coping with strenuous workloads. On the other hand, males are definitely a much better choice for analytical, logical and tasks which require data interpretation. Given this broad segregation in their capabilities, one ponders as to whether a common yardstick of comparison between these vastly different personalities would be justified. However, in this competitive world one can allow a few hiccups and swallow the medicine with a spoon full of sugar nonetheless.


Sari in the Boardroom This topic seems to loom around the traditional picture of an Indian woman. The sari is not only an elegant costume, but is also the universally accepted symbol of Indian feminism. In a way it is a metaphor, in that the woman draped within the sari is seldom allowed outside the household in pursuit of a career. It serves as a representation of the bonds that tradition and society have for imposed upon the Indian woman, preventing her foray into fields other than the domestic cluster, starting with the very clothes she adorns- the sari.




Traditionally, the role played by an Indian woman has had very little scope outside the confines of the household into which she was born or wedded into. The average Indian household does not believe or rather support the education of its female progeny. Right from childhood, the woman is taught not more than necessary to ensure the smooth running of her future home. Her education, apart from the regular schooling, revolves around the arts and crafts sewing, singing, painting, sketching etc. Anything beyond this and the girl is considered forward and bold, implying unsuitable for the tamed and domesticated role of homemaker that she is expected to don. Surrounded by this apathy, she is closeted by the expectations and latent demands that society impinges on her. Buckled by such beliefs and values, is it really a wonder that the Indian woman has not scaled the professional ladder as compared to her counterparts?

From the vedic ages, although the education of woman was advocated, her role was constricted to the mundane domestic chores. In effect, her domain of power was within the four walls labeled home. This gave root to myopia that a woman cannot survive the harsh realities of the workplace. That she would be cowed by the male populace who lord the fields and that she will not measure up to the task delegated. The constant reinforcement of this pessimistic incline, right from the family to friends to society at large has taken its toll. The net result has been the unwillingness of the woman to step out of the house as a wage earner.


Another argument that stands in the way of a working Indian woman is the fallacious assumption that children can not be raised in the absence of a mother. In keeping with the general opinion of the male dominated society it is drummed into the psyche of a woman that it is HER responsibility to raise the children. One forgets that the word parenting as well as parent is not a reference to the mother alone, rather it encompasses any individual who can and will assume the responsibility for a child. Instead of encouraging the decision, the working woman is fed with guilt for having neglected her family for the selfish perusal of her career. What they fail to appreciate is her balancing both her home and her official capacities, without compromising either i.e. she does not shirk from her domestic chores, she will still come home to cook dinner for her loved ones. Rather than applauding her persistence and grit, she is emotionally attacked for abandoning her family.


At the outset it does seem that the woman is driven by her male counterparts, but is that the true picture? The Indian woman is forsaken by her counterparts from other generations as well! Very few mothers in law would accede to their daughters in laws professional aspirations, either as an entrepreneur or as an entity in an organization. Even a co-home maker would express shock and disbelief at such a bold decision. When women themselves succumb to the dictates imposed by the conveniently labeled values, what hope can there be for her acceptance into the corporate environs? Indeed, it seems as thought the crossing of the corporate threshold by a woman amounts to a second marriage with new responsibilities and tasks and is looked upon unfavorably by the rest of the ilk.


From an organizational point of view, women are liabilities as they are more likely to take an evening off to spend time with the family than stay in to work late. Their commitment to familial ties prevents their being accepted into the throes of corporate boardrooms. The fact that they might get in the family way also increases apprehensions about the long holidays this would entail. However the recruiters fail to take into consideration that women are treasure loyalty and dedication than men due their emotional maturity, thus more likely to stay in the organization. This spurious reasoning for not employing women heightens the prejudice against her attempt to eke out a living.


Yet another pestilence that dogged a womans career climb was the infamous glass ceiling policy. Although women were recruited their career climb was stunted after a certain point of time. Preference was given to male colleagues as the organization could not bear the stigma of having a woman at the top.

Thus women face discouragement not only from the home front but in some ways from the corporate one too. Surrounded by such a defeatist attitude, not many women dare to explore the horizons beyond the view from their haven and shelter. They mentally resign themselves to the fate of a lifetime married to the domestic clutter that is typical to households.


Hope is there yet. Despite the widespread notions of the wife by the hearth philosophy, some people are challenging it and winning. The advent of widespread education and global awareness has slowly begun to prick the hides of the conservatives and has brought along with it a new breed of Indian Women. Equipped with an armor of education and well versed with the ways of the world, these adventurers hesitate not to quote their favorite role models who have inspired them to aim for more. Raised by parents who value tradition yet do not ratify the necessity of their child to simply live as The lady of the household but instead allow her to explore domains and fields and support her along every step of the endeavor.


This bold, brash form of the sari loses none of its tradition or values or for that matter elegant, it simply spills over to the corporate boardroom making it a more cheerful and sunny and homely place. There can be no denying the right of a woman to work. This new wave has also opened the eyes of enterprises who are welcoming female employees with open arms. Indian woman have also succeeded in scaling the peaks of management and vying for the top spots with their male rivals. Gladiators who have survived the harsh conditions of the domestic household, how much more of a challenge could the new role offer? Hats off to these pioneers, who have trudged through the corporate jungle and braved the industrial smog thus paving the way for the next generation to follow suit.


These women have shattered the glass ceiling and used the shards to mirror their accomplishments to the eyes of an incredulous world. Ms. Lalita D. Gupte, Joint Managing Director of ICICI and Naina Lal Kidwai, the Managing Director of HSBC who was also the first Indian woman to complete her MBA in Harvard are towering examples in this regard. Having scaled the ladder they are veritable role models, inspiring the society to purge its outlook on the working woman.

Sudha Murthy is another such. The first woman employee at Telco, she personally convinced JRD Tata of her worth and persuaded him to take female employees. The story does not stop there, she also topped the written exam and sailed through the interview. She is a legend in her own right.


The concept of women executives is steadily catching on. People are slowly opening up their minds to the new avatar of the Indian woman, still draped in her sari with the same sweet smile, but instead of comeliness, a figure that oozes authority and power, a visionary who handles every situation with finesse, the perfect picture of grace under pressure. The future is inevitable- Women mangers are here to stay.





About The Authoress: Arthi V.P. is a second year student of PGDIM at NITIE-Mumbai. She hails from sunny Chennai and likes watching movies and giving words to her thoughts.

Kshitij 2005, a joint effort of NHRDN and Xavier Institute of Management, Bhubhaneswar, attracted the best talents from all the top B-Schools of the country including IIMB, XLRI, NITIE, FMS, IIFT, NMIMS. The contest involved two rounds with the initial short listing being done on the basis of the project reports. The Final round saw the short listed candidates descending upon the beautiful lush campus of XIMB.

The participants from XIMB were clearly in their elements and a cut above the rest as they managed to bag the top positions in three out of the five functional areas in the individual rounds. Bivas Misra who was awarded for Systems, Abhijit Shah for Finance and Mr Sujesh P for Operations were all second year students of the PGDBM at XIMB. Anindita Rathore from FMS Delhi, won the top award for her project in Marketing while Sajan AS from XLRI bagged the HR top slot.

The XIMB success story was also repeated in the Rural Management segment where XIMB students bagged all the three spot on offer in that segment of the competition, once again affirming XIMB's dominant status as the emerging top B-School in the Rural Management education.

The event was adjudged by independent judges from some of the most reputed corporate houses of the country and the judges were greatly impressed with the quality of talent on display and the adept management of the event.

The workshop was held on August 27, 2005 and the day was divided into two sessions.

Session 1 addressed issues related to Marketing Research, Segmenting, Targeting and Positioning. Student participation came from top notch B-schools of Mumbai, viz. SP Jain, JBIMS, NMIMS, SJMSOM, TISS and the host NITIE. All participants were given a case one week prior to the finals. The individual teams worked on the case and made brief presentations during the finals. The panel evaluating the presentations consisted of Mr. Sujit Das Munshi, Executive Director AC Neilson and Mr. Parag Mohalikar, Former Research Director, ORG MARG.

After all the presentations were made, the panelists gave their presentations and views as to how the case should have been approached. They even explained as to which tool should have been used to test a certain aspect. Some of the learnings in this session were:

· How to identify the problem the problem and the importance of the same.
· Preparing a blueprint/roadmap before applying Market Research tools and Techniques.
· Gauging the awareness levels of your brand/company among the consumers.
· Identifying your target segment well before undertaking a full blown Market Research.
· Questionnaire design: Not to make it redundant as a lot of information can be made available from published reports like the retail audit reports.

Session 2 addressed issues related to Branding, Advertising and Media Planning. The panelists for this session included Mr. V Wabgaonkar, Strategic Planning Head, FCB Ulka and Mr. G. Dhananjayan, Vice President - Sales & Marketing, Hutchison Max Telecom Ltd., (Orange). The case was on the problems faced by the brand Zandu Kesari Jeevan. The issues discussed ranged from:

· Positioning the brand as a tonic and not as a chyavnprash
· Using a different punch line
· Changing the brand personality and the packaging
· The media budget along with the mediums to be used.

Again in this session, panelists provided their feedback on individual presentations and gave their views as to how they would have approached the case. Some of the learnings that were bought to light during this session were...

· Repositioning a brand is not as simple as one thinks especially in the case of Zandu Kesari Jeevan which has been selling over 60 years.
· Proper deliberation needs to be done while making the media plan.
· With limited budget, one cannot use many mediums of communication. Hence prioritizing among the available mediums is of utmost importance.
· Positioning is in the minds of the consumer. Hence be very sure of your consumer profile. Moreover the creative/advertisement must properly convey what the company intends to convey
· Always think what returns can be expected from your communication plan.
· Define the time period for which you intend using your communication strategy. Ideally planning for the same should be done over the next four to five years.

Both the sessions were well contested. The winner of the first session was the team from NMIMS while the second session was won by the team from NITIE. In the end it was an enlightening day for both the students as well as the panelists who felt that that it was a unique concept as it allows for a two way communication where management students would be able to recognize the gist of the problem and identify the pitfalls through their interaction with the industry czars.

"All two-year MBA programs can be condensed into 12 months" - First part of the interview

Dr Bala, B-Schools in India do not consider students as stakeholders. How much of a role are you in favour of giving to students?

You know what. I want them to completely run the institute. That's why I want to create leaders, not managers. I want them to be good managers, but leaders who go beyond management.

How different would it be from your experience at JL Kellogg Graduate School of Management, with the kind of students who are there or how it is run?

See, I don't see a family bonding even at Kellogg. Right or wrong. Maybe it is more wrong than right; I have a 'benevolent dictator' role at Kellogg. Now, when I have that power (at Great Lakes), why should I not use it? Why should I be benevolent? I am going to leave the whole thing to them (students). So suppose I make a legacy that all the alumni and faculty who worked with me take the whole institute, then they become owners. And when they are owners, I don't see the need to worry about anything. Some will be rich owners, some will be poor owners. The rich owners put money, the poor owners put service and their time and it is going to flourish.

But there is only one Dr Bala Balachandran.

I don't care. Many people do not agree with me. My own feeling is they may think I am an idiot.

What if they are not you?

I don't care. But, I am creating me in this place. I can show you some people. I think they are going to outperform me. I am confident of that. They have the energy and the excitement and also the right values. They have the feeling of giving, rather than taking. See, the problem comes when you want to grab somebody else's share. When you say, I am competing for giving, rather than taking, then where is the issue?

I am not going to say that all the 128 graduating students are going to be like this. But all I need is ten fellows, five fellows per year. And India can be great. India has the potential, the resources and if the Government and the bureaucrats do not block everything, then they can take over.

How do you think Indian students compare with their peers at Kellogg?

I would say the Indian students are very analytical and use the left side of their brain a lot more than their right side. They lack in soft skills. Whereas the Western student can talk smoothly and use the right side of his brain more. Indians do not communicate properly, they remain shy and have very poor body movement.

How much time do you spend between Kellogg and Great Lakes?

I am at Great Lakes three months of an year. The three months being staggered through out the year.

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What B-schools in India do you see as competition to Great Lakes?

We love competition. I want to view at least three IIMs as competition. They are better than us, no question about it. So I want to see what I can take from their success. Similarly, ISB has done some really great things and I would rather like to see what I can learn from ISB. I won't view these as competition because competition comes only if the resources are scarce. India needs at least 30-40 great business schools. Great Lakes as an institute, won't shy from selling itself. In my opinion, the real world class institutions of India are the Indian Institute of Science at Bangalore and the Tata Institute of Fundamental Research.

What about the IITs and the IIMs?

IITs and IIMs are great because of their students. I do not know whether the faculty is putting the same amount of time, not because they need more money. For example, the kind of salaries I get in an international institution allows me to do research. So therefore I really feel a research active faculty is needed for world-class publications. If our faculty is able to publish in the top-tier journals of the world, then I will call it world-class.

Why aren't Indian B-schools able to produce high quality research?

Because they are all trying to make money.

What about the IIMs?

Well, I do not know. One thing I can tell you. It is the IIM professors that are doing the work in Kellogg. So why do the same people, when in India could not do it, when they go to US they do research and become a role model for others. The reason, in my opinion, is the kind of environment and the kind of leadership that exists there does not exist at these places here. The students or alumni guide themselves. The salaries given to the faculty here do not enable them to have a big luxurious flat with a nice car which we can afford in US and therefore now if I have extra money, I give. As I said, how many people are able to donate money in crores?

India doesn't have a donating culture.

No. No.

Is there something to the effect that Indians who graduate out of Indian B-schools don't want to donate back to their alma mater?

I won't say they don't want to give. Because, in my opinion, I feel, we all owe a moral liability. The tuition fee paid in an IIM or an IIT is not market tuition fee, it is subsidized. So the students owe something back. For example if the tuition fee is $26,000 per year in Kellogg or Harvard and I'm paying less than $3000, I owe them the $23,000 then. Nobody thinks that way in India.

Nobody teaches that way too.

Yes, I know. But I think when you become a little old, and when you earn a good amount of money, it changes. Now India is going to make a lot of money in India itself. For example, one of my students at Kellogg/Carnegie Mellon makes more money in India now than what he was making in US. He is going to give money to some school in India.

What are your main focus areas that you are going to concentrate on for students at Great Lakes?

Team Leadership, meritocracy and customer centricity.

What are your future plans?

I pray for five years time to put at Great Lakes. I'll pull it off and leave it to the people for them to run.

Dr Bala, it has been great talking to you. Thank you very much talking to PaGaLGuY.com and we wish you all the very best with Great Lakes.

Thank you. It is my pleasure.


Discuss this article in the Forum!

Indian Oil Corporation Limited - India's largest commercial enterprise and the No 1 Company in Fortune 'Global 500' listing recently celebrated 42 years of its inception. As part of its Mission to enrich the quality of life of the community, IndianOil on this day, announced 350 Scholarships for meritorious students from economically weak backgrounds, all over India, under the IndianOil Scholarship Scheme for the academic year 2005-06.

For the academic year 2005-06, 350 Scholarships covering the first year students of 10+, ITI, Engineering, MBBS and MBA, will be formally announced subsequently.

Out of the total 350 scholarships, 250 scholarships for 10+/ITI students will be on zonal basis @ Rs 1000 per month for two years. Engineering (50) and MBBS (20) students will be awarded scholarships @ Rs 2000 per month for four years, while MBA (30) students shall be entitled for a scholarship amount of Rs 2000 per month for a duration of two years.

As part of the scheme, special encouragement is also being given to girl students, physically challenged students, and students from J&K; as well as the Northeast States.

The last date for submitting the application form is 30th September 2005.

Complete details, including the scholarship application form for downloading, are also available on IndianOil's corporate website, http://www.iocl.com. In addition to postal submission of downloaded forms, application forms can also be submitted directly online at http://www.epostbag.com.

A 2-day Patents Symposium 2005, held by the Goa Institute of Management, Ribandar (GIM) was concluded successfully on Sunday at Cidade De Goa resort. This symposium, held in light of the new Intellectual Property regime coming to India, featured eminent speakers like Dr. Anil Kakodkar, Chairman of the Atomic Energy Commision; Dr. Arno Hartmann, Corporate Head of Patents, Merck Germany and Dr. Anji Reddy, Chairman of Dr. Reddy's Labs.


AEC Chairman Dr Anil Kakodkar remarked in his address, 'India is going through a transitional phase…from free availability of knowledge to the advent of the IPR regime, which has led to commercialization of knowledge. India can benefit greatly by focusing on empowering its large youth population with the tools and resources to create wealth by applying knowledge.' He also remarked that IPR system has to be sensitive to the needs of less endowed people and issues of national interest.


The keynote speaker, Mr. N R Madhav Menon, founder of the National Law School in Bangalore gave a critique of Trade Related Intellectual Property Rights (TRIPS), while suggesting a separate TRIPS agreement for traditional knowledge.Dr. Anji Reddy, celebrated by Forbes as the ''Face of the new Indian Pharmaceutical Industry'' described how his firm has successfully turned into a leading research-driven organization. Dr. Reddy exhorted the industry to look at the tremendous new opportunities that the new scenario provided, and be driven by a passion for excellence.

The second and concluding day of the symposium featured Dr. Arno Hartmann, Director of Patents Division for KGaA Merck, Germanywho spoke about the significance of patent rights, saying that only patents will provide the protection and incentive necessary for conducting meaningful research. Since research is always expensive and takes a long time, patenting can ensure profitability and hence encourage creativity and entrepreneurship,said Dr. Hartmann. He pointed out the weak-points of the patents law in India and suggested ways to improve upon those areas, in order to have a solid and working Intellectual Property Rights protection system.


Other eminent speakers included Mr. P Mazumdar, Director, Syngenta; Dr. Keayla, National Working Group on Patents and Professor V. Gopal of the Goa Institute of Management.


This Symposium was organized by the Goa Institute of Management, Ribandar as a student initiative in its quest to mobilize Corporate India to be creative and swift to survive and flourish in rapidly changing global conditions.

On the evening of September 9th, NITIE played host to a stimulating discussion on “The roles and responsibilities of Media in disaster management.” Ironically, the torrential showers that hit parts of the city added an extra touch of authenticity to the proceedings.


The event was split into two sessions. The first session was a tripartite tête-à-tête between the audience, Ms. Shyama Kulkarni, Ward coordinator of the Mumbai based NGO AGNI and Ms. Amrita Shah, columnist, Indian Express. Ms. Kulkarni kick started the proceedings by asking Ms. Shah to define the role of the media while reporting a disaster. Ms. Shah responded by saying that in an ideal scenario the media should present an unbiased and factual report of things as they are. However, she also admitted that in reality, this often does not happen due to the various internal and external pressures that the media is subject to.


The discussion went on to cover a whole gamut of topics relating to ethics, functions and realities of today's media. The speakers debated the new trend of newspapers raising funds from readers for relief work during disasters. Ms. Shah was of the opinion that such overt involvement in relief activities might compromise the newspaper's objectivity while covering issues pertaining to the disaster. Ms. Kulkarni implored the media to go beyond mere manufacturing of hype and to actually follow human interest stories till an end-solution is reached. This way the authorities will be forced to act and will not be able to get off the hook by pointing fingers at each other.


The audience and the panelists pondered over the business model that newspapers operate upon. If the true customers of the media houses are indeed advertisers and not the readers, then crass commercialization is bound to hijack the functioning and freedom of the fourth estate.


The second session was chaired by Mr. Tamal Bandopadyaya, Resident Deputy Editor, Business Standard. He analyzed the impact of disasters on business. He explained how financial losses are calculated in the event of a disaster. In response to an audience question he discussed how insurance companies deal with challenges posed by natural calamities.


The remarkable insulation that the stock markets seemed to have cultivated to natural disasters was discussed. Mr. Bandopadyaya was of the opinion that the stock markets are driven by the inflow of funds from FIIs who are banking on the prospects of long term growth in the Indian industry and hence, short term incidents such as floods, etc. do not trigger panic amongst them.


At the end of the day, both sessions emerged with the conclusion that the citizens of Mumbai will have to play a more active role in disaster management as well as media moderation. Unless the citizens speak up, neither will the Government nor the media listen. Mumbaikars your ailing city is calling for you!

Continuing the tradition of excellence, Department of Management Studies, IIT Delhi organized the Marketing Rostrum on the 10th of September, 2005. The Rostrum is a annual seminar series at DMS, IIT Delhi where leading personalities from the corporate world exchange ideas and interact with the student community on relevant topics in the current business scenario. Marketing Rostrum brought to light the various aspects in the area of Building Brand Equity in Today's Competitive World. The event was chaired by Mr. Rajat Baisya, Ex- CEO, Emami and currently a faculty at DMS, IIT Delhi. The following dignitaries shared their views with the students in this interactive program.


Mr. Rajiv Kanwal (Ex. CEO, Kelvinator)
Mr. Chandra Sethi (CEO Rickitt Benkiser)
Mr. NC Patnaik (Ex. Country Head Ranbaxy)
Mr. Deepan Sethi (Director, QED Solutions)
Mr. Arun Shankar (Brand Director- Strategy, Eicher Group)
Mr. Sam Mitra (VP- Minerals, Tata Group)
Ms. Nandini Das Ghoshal (Sr. Consultant, KSA Technopark)


The seminar began with the first session by Mr. Rajiv Kanwal and Mr. Chandra Sethi, who gave important insights about the gravity of building brand equity and protecting it by providing real life examples.


The second session proceeded with presentations by Mr. N. C. Patnaik,, Mr. Deepak Sethi, and Mr.Arun Shankar. The speakers spoke about the importance of brand equity for non FMCG products, branding as a marketing science and the theoretical and practical aspects of brand equity respectively.


The third session saw lectures by Mr. Sam Mitra, who spoke on brand equity in the international B2B context and Ms. Nandini Das Ghoshal, who spoke of brand positioning and brand management for a young and resurgent India.


The day long event attracted participation, not only from within IIT Delhi, but also from the industry and other B Schools in the capital and provided an excellent platform for the students to learn about brand equity from the corporate world.


After contributing to set up the Indian School of Business - Hyderabad, Dr Bala V Balachandran, the ace accounting Professor at Kellogg School of Business decided to start the Great Lakes Institute of Management in Chennai.

Great Lakes is a pretty young (only 1.5 yrs) institute and has only one graduated batch. Expectations from an institute with such a profile might tend to be on the lower side. However, interacting with the students and the administration is sure to spring up some surprises.

The Business Advisory council of the school has some of the biggest corporate names in India and abroad. Some of them are Mr Ratan Tata, Mr Jamshyd Godrej, Mr KB Chandrasekhar, Mr Madhur Bajaj, Mr Deepak Parekh and Mr Narayan Murthy. A business school's connection with the corporate world matters a lot, be it during placements, summers and even in attracting guest faculty.

The Academic Advisory council - which contributes to the curriculum of the school - also comprises some of the who's who of the academic world. Renowned faculty from across the world on the council are Prof Aswath Damodaran, Leonard N Stern School of Business, New York University , Prof Philip Kotler Professor of International Marketing, Kellogg Graduate School of Management, Dr V Kasturi Rangan, Professor of Marketing, Harvard Business School, Dr Jitendra V Singh, Professor of Management and Vice-Dean of International Academic Affairs, The Wharton School and more. By the looks of it, Great Lakes has been built from the ground up with a lot of hard work into the business linkages and the academic curriculum.

Infrastructure

The school operates from a three-storied centrally air-conditioned premises with the standard infrastructural facilities. At first glance, the building doesn't evoke the feeling of being a business school premises. After having seen other campuses where the acres of land and magnificent buildings are the norm, it took us a while to figure out how an entire business school and its related activities could be conducted through a single building. On touring the premises, we noticed that building was quite functional. The classrooms, lobby and rest facilities all were rather small and cramped by business school standards. However, the entire building is wi-fi enabled and students could be seen lugging their laptops around and working on them. The entire building is centrally air-conditioned, because in Chennai's blistering heat, it helps in keeping one's senses intact.

According to Dr Bala Balachandran, founder of Great Lakes, a new campus is being developed in Chennai.

"The government has already approved of the land and the construction plans are underway. The new campus would be extremely functional and well planned, but it wouldn't be lavish and expensive to maintain," he informed, pointing out that the scarce resources a new business school has to deal with are better utilized for world class faculty and curriculum. (You can check out the interview with Dr. Bala here: Part1 & Part2)

The MBA program at Great Lakes is non-residential. Since the MBA at Great Lakes is a one year program, the interaction provided by a residential course structure could further increase the group learnings of the students. The course would, however be fully residential once the move to the new campus is completed. At present, most students of the institute live in rented apartments nearby. More interestingly, some students, even though they belonged to Chennai, also preferred renting apartments near the school.

The introspection of some of the students and also in their ability to work around the problems of not being in a residential program in a creative, but thought provoking manner is impressive.

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The Culture

There are two aspects to the culture of the institute: how the administration treats the students, and how the students treat the school and its participants. Certain traits of the school's administration could be termed 'radical' or 'simple' based on how you look at it.

According to Dr Bala, the institute has adapted the best features of the American management education adapted to the Asian values and ethos. The institute has a slogan which is rather interesting and rather simple. It goes - 'We take care of you as our customer'. It is refreshing that the institute focuses on its basics and most importantly its stakeholders, one of them being the students. Only time will tell how well this has been implemented, but it is definitely a step in the right direction in terms of empowering students and having a feedback mechanism in place that allows the students to voice their opinions and seek remedial changes in the setup.

The students at Great Lakes are extremely passionate about their school. It has however to be said that most students presently studying there have joined Great Lakes for lack of other options. And, due to the nature of the one-year program, where interaction with senior batches is negligible, if not nil, the reasons for the passion are hard to find. However, the school is still too young to have a trademark culture.

What differentiates Great Lakes from other B-schools?

Great Lakes runs a one year MBA program, a chief factor that sets it apart from the overcrowded two year MBA programs in the country. From a financial viewpoint, it offers lot of advantages to the student and the most important is being just one year away from your career, which automatically reduces the cost of attending the school by reducing the applicant's opportunity cost over a period of a year. So the program and its fees definitely provide an excellent return on investment based on the average salaries the students receive and also the shorter duration of the program.

On the academic front, there are certain changes that are specific only to the Great Lakes program. Unlike most other B-schools in the country that offer academic and theoretical specializations such as those in Marketing, Systems, Operations and others, Great Lakes goes a step further and has introduced what it calls Industry Specializations. The curriculum has 'Horizontals' and 'Verticals'. Students pick up electives from the Horizontals, which are similar to the specializations offered in other schools. However, the students will have to do a mandatory industry internship and project from one of many industry specific verticals such as technology fusion, health care and hospitality, entrepreneurial and family business, among others.

Students at Great Lakes must learn Mandarin in a year through a compulsory course. Dr Bala believes that upcoming managers should be ready with Asia specific knowledge, China being a market that India cannot ignore. While this is a logical line of thought, the students being stakeholders should be allowed the freedom to choose the languages. According to Dr Bala, this is going to be an option in the future.

What are the school's strengths?

Most of us at PaGaLGuY.com are jaded in terms of business schooling, because we have usually seen that, been there and heard that, mostly thanks to our community forums. At Great Lakes, we were shocked to hear the names we did - the names of some of the faculties who come in to teach at the institute.

1) Dr. Lynn Miller -Business Communication- Stuart Graduate School of Business
2) Prof. Ram T. S. Ramakrishnan - Financial Statement Analysis - University of Illinois at Chicago
3) Dr. Seenu Srinivasan - Stanford Graduate School of Business.

Some of the guest lecturers at Great Lakes have been names that wouldn't normally be seen in an Indian management school.

1) Dr. Jagdish Sheth - Goizueta Business School, Emory University
2) Dr. Raghuram Rajan - Economic Counsellor & Director, IMF 3) K.B.Chandrasekhar - Chairman & CEO Jamcracker Inc
4) T.T.Durai - Former Chairman, National Kidney Foundation-Singapore & Member-Business Advisory Council- Great Lakes.
Great Lakes' startup kind of nature is its major strength. It provides a newly started business school the flexibility to make drastic changes and improvements over the first few years. This is because of the inherent momentum any new venture carries. This trait could help Great Lakes forge ahead of many other institutes.

First year placements at Great Lakes show the average salary CTC at 5.5 lakhs, while the highest Indian salary stood at a CTC of 17 lakhs. Both the figures are extremely impressive for a business school's placements in its first year of existence.

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A personal touch

Every student at Great Lakes calls Dr Bala Balachandran as 'Uncle Bala'. It just doesn't fit into what we perceive a business school should be. However, as we found out, it isn't simply about students paying 'lip service' but more about Dr Balachandran's way of creating an entire new channel of communication with his students. The students at Great Lakes had direct access to the Dean and can discuss their issues one on one, and this channel of communication through the 'uncle' way - absolutely helped create an environment where you could be interacting with Dr Balachandran himself on a regular basis.

What are the schools weaknesses?

One of the glaring weaknesses of Great Lakes is the infrastructure. The B-school also lacks full time faculty. Right now Great Lakes has only three full time faculty. International faculty doesn't stay back at the institute and return to their respective institutes after the classes are done with.

The brand strength of Great Lakes is debatable. This is because Great Lakes never launched itself with a big bang. It seemed to be a rather subdued affair and we haven't seen much advertising from them anyway. One school, which did launch itself extremely well was ISB, who were able to garner unbelievable media attention right from the start. So while the faculties are amazing and the scope is immense, few people, including companies would have heard of Great Lakes.

Another issue that comes to mind is the singular leadership of Dr Balachandran. While he has tremendous abilities and has been able to be in the founding group for many business schools, there is a concern as to whether Great Lakes will remain a Dr Balachandran's venture. Great schools have great leadership and Great Lakes has got it right at the start. But will it be able to institutionalize Dr Balachandran's dream remains to be seen and while it is too early to decide the future of Great Lakes, this will factor into the decisions of students who finally join the school.

What are they doing to fix it?

Besides the construction of a new campus, Dr Balachandran says that he is actively scouting for and hiring new full time faculties. More full time faculties also help jumpstart the institute's research initiatives.

On the brand front, this year Dr Balachandran did many trips across the nation for the 'Meet the Dean' initiative, where he traveled across many cities and met up with prospective students and corporate companies as well. However, we were told that there are plans to start advertising about the school in various media so that prospective students do start considering Great Lakes as an option in their management education dream.

The Students

Students at Great Lakes come with varying amounts of work experience and over 50 pc of the students have over three years of work experience under their belt, including 20 pc of the students who fell in the 5 - 10 years experience category. Students with less than a year of work experience formed around 22 pc of the total intake. The intake of students in terms of work experience was fairly well spread out. This definitely looks like a clear initiative from the institute to have a balanced approach to admit students to the program. Interestingly, a third of the entire batch are women. Conscious decision or not, it reflects very well on a young school.

The average work experience of around 3.9 years is also indicative of how GLIM is looking to straddle the middle segment of the market which is dominated by the IIMs at the lower work ex group and ISB at the higher work ex end.

Our Take

Great Lakes is an experiment of varied dimensions that has just started to crystallize. There are stumbling blocks, not just one, but many. Be it in terms of continuing to attract, and retain, world class faculty; be it in terms moving very soon into a full-fledged campus; be it in terms of attracting the best students; and many more. But, Dr Bala believes that this is a school that is being built ground-up. It also has a world-class list of faculty that most B-schools and B-schoolers can only dream of. And it also has a vision with sound direction at the top. These facts being a given, we would definitely say that Great Lakes is one school to watch out for, be it for aspirants or be it for companies.



Discuss this article in the Forum!

BusinessWorld, in its 'India's Best B-schools' issue, has run a feature story on PaGaLGuY.com. Beginning with a short history of the website, the article goes on to briefly sketch the vision of its owner Allwin Agnel.


"Pagalguy is a virtual adda for those attempting to scale the B-school summit. Akin to Napster in a sense, every user has a 'file' to share - an experience, opinion or factoid - which ends up being relevant to some MBA aspirant, somewhere," reads the article.


The full text of the story is available here. Before this, PaGaLGuY.com has received media attention in several national dailies including Times of India, Indian Express and The Pioneer.

It is not very often that you find a CEO of one of the most recognizable brands in India on campus. In this age when newspapers and magazines are filled with stories of astronomical salaries for IIM graduates, it is also amazing to find a CEO who has a salary as much as that of fresh IIM graduates. So, there was a buzz of excitement among the students of IIM Calcutta, when two of its alumni who had taken the less traveled path came down to the Joka campus for a talk with the students. Ingrid Srinath, CEO, Child Relief and You (CRY) and Ila Dikshit Hukku, Director, Development Support, CRY, were on campus as part of a program organized by the Colloquia Cell.

Ingrid kicked off the talk with the story of CRY. The story of how CRY began as the dream of a 25 year-old airline purser, Rippan Kapur with Rs.50 around his mother's dining table. Filled with passion and enthusiasm, she took everyone through how CRY evolved through the years from an informal group of 6 friends who sold greeting cards in offices at Nariman Point to a professional NGO recognized as one of the biggest brands in India. CRY is primarily involved in raising funds for promoting welfare programs for children.

Ingrid, Class of 1986 and Ila, Class of 1987 talked about how IIM Calcutta and their careers in the corporate world prepared them for the challenges they had to face at CRY. Challenges like managing a brand like no other, planning strategies, managing finances etc. CRY is a pioneer in many respects. CRY was one of the first NGOs to hire professionals who changed the face of CRY. CRY was one of the first organizations to go into outsourcing in 2000 far before any of the Indian corporates. All these were the result of the tremendous role that professionals from diverse areas played in CRY.
Ila explained how CRY's programs have been successful in empowering children. She related how Kusuma Devi, a girl in Ghoraval village in east UP studied up to Class 8 and started a local saving's group for women. This success story points out how CRY has been able to change the lives of children. CRY works by supporting NGOs at the grass-roots level as well as influencing policy-making at the highest levels with the Government. CRY is a grant-making foundation rather than a direct action NGO. Ila told the students that CRY works for Indian children with the money donated by Indians in India and abroad

Ingrid and Ila also talked about the changing vision of CRY. The two have been involved in revisioning CRY to take it forward. “CRY is committed to enable people to take responsibility for the situation of the deprived Indian child.” This new vision of CRY is bound to take it far ahead of other NGOs.

When one of the students asked why CRY does build schools of its own, Ingrid replied, “The government has the responsibility of providing basic social facilities to its people, especially its children. CRY does not build schools; we get the government to put in systems, get them working and improve upon them.”

Ingrid and Ila, two of IIM Calcutta's finest products went down a road that few others take. It sent chills down everyone's spine when Ingrid finished the talk by quoting Rippan Kapur, the late founder of CRY, “What I can do, I must do”.

Imagine a dark, rainy, enchanting evening spent listening to one of the greatest Indian maestros of the flute, perform a recital dedicated to the moon just when the glowing orb begins to peek through the clouds in the sky. An ecstatic experience you may say, and that is what most of the people gathered in the MCHV auditorium at IIM Calcutta felt, when they were treated to an outstanding performance by Pandit Hariprasad Chaurasia, one of the greatest living exponents of the North Indian flute.

Pandit Chaurasia was performing at IIM Calcutta at an introductory concert which marked the revival of the dormant SPICMACAY chapter at IIMC. SPICMACAY (Society for Promotion of Indian Classical Music and Culture Amonst Youth), a voluntary youth organization, seeks to conserve and promote the rich cultural heritage of India amongst its youth through focus on the classical arts and to facilitate an awareness of their deeper and subtler values. It has had a long association with IIM Calcutta, since 1987.

This performance by Pandit Chaurasia was part of SPICMACAY's annual series of activities and events, VIRASAT 2005.

After a welcome address, when the director of the institute Professor Shekhar Chaudhuri welcomed the esteemed performer and his accompanying artistes, Panditjee began with an introductory session with the audience. He remarked that it was after eight years he was coming back to this campus, and he was surprised and delighted at the beautiful MCHV auditorium with its calm, meditative environment. He asked the audience to suggest any particular raga that they were keen on hearing. The response of the audience though, was very hushed, as it comprised students and staff whose musical repertoire seemed to be limited. But again, it may have been that even the connoisseurs of classical music were too awed in the presence of the maestro to be free.

Panditjee then first performed Raga Yaman (also known as Kalyani Raaga in South India) in two parts - first in Madhya-laya Jhap Taal and then the second one in Drut Teen-taal. This Raaga, he explained was a prayer welcoming the moon, and was apt for the occasion. Next he played Raga Marwa in Madhya-laya Teen-taal. In both of these he was ably accompanied by Vijay Ghate on the Tabla and Sunil Avchat on the Flute. Ghate especially helped the audience with his eloquent expressions of appreciation whenever the maestro performed a particularly complicated part!

Though most of the audience was probably uninitiated in the realm of Indian classical music, they remained spellbound and lost themselves in the aura of peace and unhurried calm that the melody created. What was a lesson for most of us through this recital of classical music was the patience and concentration that goes into the exploration and fine-tuning of a single alaap, over and over again.

It was a very interactive session and Panditjee tried to engage the surprisingly quiet students by declaring a prize for the student who would be able to identify and sing a tune he played for a minute, correctly. But though one or two students tried naming it, none would venture forth to sing it. May be this was a wake up call for us to remind ourselves that there is more to life than just books and the pursuit of wealth and fame.

It was a welcome respite from the hustle and bustle of a rigorous academic life.

The future of Supply Networks

In the future, effective Supply Chain Management (SCM) would be a key differentiator for companies working on a competitive market was the message that emerged from the Operations Continuum, an event hosted by the Shailesh J Mehta School of Management, IIT Bombay on September 25th and attended by students from various B-schools. The event was a part of the yearly Continuum series, a forum for B-school students to get an insight from the knowledge and the experience of people from the industry. The current Continuum was based on the theme of 'Future Supply Networks' and 'The Role of RFID in Supply Chain'.

Inaugurating the event, the Head of the Department Prof. Mangesh G. Korgaonkar stressed on the global and profound impact of technological innovation in the area of SCM and also spoke about the need to develop financial parameters to link financial performance to investments made for SCM. “ Supply Chains are moving away from being rigid and modularized and are becoming more flexible. In this context, we need to see how best we can leverage technology”, he remarked.

The role of Adaptive Manufacturing in ensuring a Demand Driven Supply Chain (DDSL) was the theme of the talk by Ravi Mandayam, Development Manager, SAP. Explaining the need for DDSL, he also stressed that Adaptive Manufacturing, which involved the ability of the plant to profitably replenish the Supply Chain while dynamically responding to unpredictable change was imperative if companies needed to run at the 'speed of business'. “To be able to have a demand driven supply chain, there is a need for manufacturing excellence”, he remarked. Mr. Narayan Rajagopalachari, Vice-President for Global Consulting Services of i2 Technologies spoke about the need for enterprises to be agile and enumerated the Best practices in Supply Chain Management, which included, intimate customer and supply knowledge. He remarked that that the mantra today was optimization and synchronization of supply chains and for that the demand, supply and the product processes needs to be fine-tuned.

The differences between traditional supply networks and the Demand driven supply networks and the need to shift from the former to the latter was the theme of the talk by Adnan Ahmad, Director for Supply Chain at Castrol India Ltd. He elaborated on what aspects change needs to be made and the critical success factors for this purpose. “India is on the verge of a tremendous revolution in Supply Chain innovations”, he added. According to Ashok Pai, Director for Supply chain Solutions at Bristlecone Ltd., “ Both process re-engineering and use of IT is required for boosting supply chain efficiency.” “Supply chain processes needs to be looked at first before embarking on information technology initiatives”, he added.

Various speakers discussed the technology behind RFID and its applications in Supply chains. Sandhya Sule of Patni Computers discussed the technical details of RFID and the associated standards commonly referred to as EPC (Electronic Product Code) standards. She emphasized that the adoption of RFID in India was mostly compliance driven and not because of cost reduction. She enumerated some of the deployment of RFID solutions in India but warned that use of such technology should be only if there is a sound business case and after a successful pilot project. Rajiv of MAQ Software, a US based firm specializing in RFID and smart card applications gave an insight on some of the RFID applications which MAQ was currently working on, which included a pilot project for the Rajasthan State Transport for real-time tracking of their buses along the National Highways. The approach towards the use of RFID in manufacturing and the practical issues involved in its implementation was discussed by Rajat Modi, Consultant for Technology Advisory services at PwC by taking the example of an ongoing pilot implementation of RFID for a power major in India. According to Rajat, “The endeavor to use RFID in manufacturing is in removing all non-value adding activities”. The underlying theme across the event and the talks was that Supply Chain Management is here to stay and that it is going to witness lots of technological innovations like RFID in future.

These days with the global economy looking promising again and pre-placement offers from multinationals raining at IIMs, it was indeed inspiring to see an Indian Manufacturing Major like Tata Steel taking time out to educate the students of IIM C on the corporate policies and business practices that makes the Tata Steel group of companies a global leader in its field today.


With this aim, some senior managers from Tata Steel, most of them IIM Calcutta alumni, visited the institute campus on Wednesday evening and organized a seminar for the students . As Mr.Jasbir S Kochar, head of Human Resources (Flat Products) at Tata Steel puts it, “We need to demonstrate the challenging and dynamic nature of assignments a Tata manager deals with. The immense opportunity to learn and harness one's skills can allure the budding managers.” The talk featured a couple of presentations by Tata Steel to familiarize the students with the current brand management and acquisition strategies being practised by the company with a view to establish itself as a global leader in steel industry by 2010.


Mr. Anand Sen, Vice President (Flat Products division) talked about the company Retail Value Management (RVM). He described how Tata has carved a niche by branding its Cold Rolled Steel products and how branding coupled with an organized retail network have enabled them to come closer to customer and maintain an edge over competition.


Mr. N. K. Mishra, Chief Strategic Planning and Finance, and Mr. Sankalp Pratap, Senior manager of the division discussed their future strategy in the wake of recent acquisition of Singapore's NatSteel Corporation and company's aggressive growth plans in Iran.
Thus there is no dearth of challenging and high profile assignments in Tata Steel. “The best part is you can even switch between functions like strategy, marketing, finance etc. or even between group companies. The limit to career growth for a top performer is set only by his initiatives”, remarked Sankalp Pratap, a 2003 batch alumni who had earlier left a high paying merchant navy job.


The company plans to initiate joint projects with faculty and students of IIM Calcutta. This will be mutually beneficial as the company can tap the fresh talent and add an independent dimension to its strategic decisions while the students get a flavour of working with the Tatas.


The event received an enthusiastic response from the student community. The institute authorities and Tata Steel plan to hold similar events in every quarter. However the true success of this initiative will be gauged by the students' response towards placement in Tata Steel.


Senior alumni from Tata Steel who attended the talk -


Mr. Anand Sen, Vice President, Flat Products, Tata Steel
Mr. Abraham, Head, Marketing & Sales, Tata Ryerson (TS Associate Co.)
Mr. Dibyendu Bose, Head, TMILL (TS Associate Co.)
Mr. Sankalp Pratap, Senior Manager, Strategic Planning & Finance, Tata Steel
Mr. Sumit Ray, Retail Initiative
Mr. Vikas Malhotra, Institutional Sales


In contemporary Indian cinema, Mr. Shyam Benegal belongs to a select tribe of intellectual and sensitive directors. In this Tagore Memorial Oration, we had a real glimpse of the personality, who has been trying valiantly for so many years, to exist with his kind of work branded as “alternative or parallel cinema” (terms, which by the way, he thinks simply ridiculous).


The lecture was organised by the Management Center of Human Values and sponsored by National Mineral Development Corporation Limited. Mr. Raghavan, the representative of the organisation, spoke on the importance of human values and IIM Calcutta's role through the Management Center for Human Values to advance it.


After an introduction by the members of the faculty the lecture began with a definition of the topic. In speaking of tradition, Mr. Benegal drew on the historical roots of Indian cinema, which derived its form from the north Indian “Nautanki” and Parsi Urdu theatre culture from the early parts of this century.


The lecture then dwelled upon the historical roots of modernity and the virtues and thoughts associated with modernity – liberty, equality, fraternity, rationality, democracy, nationalism and secularism. He described the Modernity project which in India spread its wings through the Bengal Renaissance and the many proponents like Raja Ram Mohan Ray. Tagore was the most influential thinker of this period and he often lamented about the need to have a modern form of expression beyond cinema.


The director then classified the period of Satyajit Ray as a landmark epoch when modern sensibilities were independently portrayed by a director who understood the language and vocabulary of modernity. He brought out a genuine aesthetic which was drawn from the traditional but with a modern, socialistic, liberal viewpoint. Rays films were not necessarily entertaining, but they were engaging in attention and stimulated the audience to think. This was a rebellion against the rigidity of form in conventional cinema, which used to be till then, a narrative or dramatic unfolding of events.


The 80's saw the tradition of making cinema suited to diverse sensibilities continue with the work of Mr. Benegal and his contemporaries like Ritwik Ghatak and Mrinal Sen. It was a difficult choice to make in the 80's as a novice director, Mr. Benegal remarked, to avoid the hegemonistic influence of Bollywood in controlling the discourse and form of films. Modern sensibilities still did not make for the recipe of popular cinema as modernity had not really seeped into the society which continued to be largely upholding traditional values.
Indian cinema, Mr. Benegal observed, has taken a leap into Post Modernity without having to deal with the uncomfortable problems of modernity. Ending his lecture on a note of scathing criticism, he remarked that 'Bunty aur Bubli' with its synthetic idea of a good life in 5 star hotel rooms, night life and designer clothes, was a perfect example of the Post Modern in Indian cinema, which sees the complete annihilation of rural India or any of the traditional values it upheld.


The function ended with a valedictory address by the Dean of IIM Calcutta Professor Anup Sinha, who turned out to be surprisingly well conversant with the theories of cinema! The audience then indulged for a few more minutes with a question and answer session with Mr. Benegal, on topics as diverse as the reason for 'Bose: A forgotten Hero' not doing well at the box office to his opinion on how multiplexes with their niche pricing have made it easier for directors like him to reach his target audience. All in all, the event was a heady mixture of erudite and critical analysis which held the audience as engaged as the august directors multiple award winning films do.

“Pain from a loss is three times the pleasure from profit of the same quantum and nature”
This was one of the interesting things that the participants of IIM Indore learnt during an interactive session organized on campus by Equit-I, the Finance & Investments Club of the Indian Institute of Management Indore. The session was on behavioral finance entitled “Behavioral Finance – Demystifying the Stock Market”.

The details of the seminar are as follows:
Date & Time: 02nd October 2005, 1030 ~ 1300hrs and 1430~1630hrs
Venue: Seminar Hall, IIM Indore
Speaker: Mr. Parag Parikh, Member of the Bombay Stock Exchange

About Behavioral Finance

Behavioral finance is the study of the influence of psychology on the behavior of financial practitioners and its subsequent effect on the markets. It attempts to better understand and explain how emotions and cognitive errors influence investors and the decision-making process. Behavioral financing is believed by many as an effective tool to explain the efficiency of financial markets, stock market anomalies, market bubbles, and crashes.

About the seminar

The seminar was divided into three different and interactive sessions with each session building on the previous sessions and further clearing the clouds from over the ever-so-inscrutable stock markets.

Session I

The seminar began with the first session as an introduction to the stock exchanges and behavioral finance which threw light on a variety of topics ranging from the differences between investments and speculations, to new theories like prospect theory, decision paralysis and the endowment effect. All these theories are the reasons why people get trapped by the vagaries of the stock market.

Session II

The second session further built on the previous session to further explain the symptoms and solutions of the problems like loss aversion, sunk cost panacea, decision analysis and endowment. Most people's ears pricked up at the mention of a few tips and plans of action for investing in stocks. The speaker also had the audience in splits of laughter at different points during the session. One such occasion – “Analysis does not work in the market, but the analysts' job is always secure!”

Session III

The last session, began after a lunch break, where Mr. Parikh went deep into the concepts discussed in the previous two sessions to explain the reasons for the stock market bubbles and bursts. Different myths about the markets were cleared, and new ways of thinking about investments were instilled in participants.

Profile of the speaker

Mr Parag Parikh is one of the pioneers of Behavioral Finance in India. He is a member of Bombay Stock Exchange since 1983 and his firm, Parag Parikh Financial Advisory Services Ltd. (PPFAS), offers a variety of investment services like wealth management, portfolio management, mutual fund advisory, institutional broking and retail broking. Equity research, investment-based analysis and behavioral finance concepts form the core of the business model of PPFAS. He holds a masters degree in commerce & economics from University of Mumbai. He completed a two-year “Owner President Management Program” at the Harvard Business School. He also attended a course on Investment Decisions and Behavioral Finance conducted by the Harvard Business School. He is also a Certified Financial Planner. For a detailed profile visit the following link:

http://www.ppfas.com/NEWSITE/AboutUs/People/paragparikh/paragparikh.htm

IT ROSTRUM OCTOBER 1, 2005


Security: A Key To Success In IT


An unprotected IT infrastructure is susceptible to information theft. It can hit any business that aims to be competitive, and impact business operations, corporate reputation, and customer and shareholder trust. IT companies allocate substantial resources for their IT security programmes. However, non-IT companies still have a long way to go when it comes to IT security.An unprotected IT infrastructure is susceptible to information theft. It can hit any business that aims to be competitive, and impact business operations, corporate reputation, and customer and shareholder trust. IT companies allocate substantial resources for their IT security programmes. However, non-IT companies still have a long way to go when it comes to IT security.


Department of Management Studies, IIT Delhi took up this critical issue and organized the second rostrum in its series on the 1st of October 2005. The topic for the IT Rostrum was- “Security: A Key To Success In IT”. During this seminar, eminent speakers from the industry addressed IT security issues related to technology and business operations.


Inaugurating the event Prof M.P Gupta, DMS IITD discussed the various aspects and scope of IT Security. Mr. A.K Wahi, Sr. Director, Convergys who moderated the Seminar emphasized on formulation of a Security Policy by all organizations as the first step towards building a secure infrastructure.


Speaking at the seminar Mr. Pavan Duggal, Sr. Advocate, Supreme Court of India eloquently explained various cyber laws and IT laws that are currently practiced in the country. He emphasized the need for these laws to be upheld properly by the law enforcing section of the society and also mentioned pitfalls that could arise in investigations of IT crimes due to the “draconian power and IT related ignorance of the policeman”.


On the issue of Cyber attacks and hacking, Mr. Sridhar Jayanthi, VP of Engg. and Head of India Operations, McAfee Inc., commented about the significance for protection against such attacks. “India's IT infrastructure is not at a mission critical stage as yet so India does not need to worry about hacking and cyber attacks at present” he remarked. Mr. Devendra, AVP, Information Security, EXL Services gave an insight into various information security issues and challenges faced by the BPO sector. He mentioned Information Security Management Systems comprising of the 'People, Technology and Process' as the mantra for security and emphasized the relevance of organizations going for standard company certification like BS7799 and COBIT to increase their credibility in the market and show their seriousness about Security issues.


While speaking about Information Security with regards to confidentiality, sources of threats and general assessment processes, Mr. Kurien George, Principal Solutions Architect, Patni Computer Systems Ltd. mentioned reactive and proactive management as a means to control and manage security. “Customer is the driving factor for IT Security in the current market” was the message from Mr. Prabhat Kumar, Corporate Security Manager, TCS Ltd. He discussed about 'End to End Assurance' and elaborated the importance of risk assessment and risk & assurance matrices in achieving the same.


Delineating the evolution of IT Security in India, Mr. Ashok K Gupta, Worldwide director IT, Quark Inc, discussed about the history of security and its requirements in Indian context. “Security can never be achieved through a single tier of defense. We need to have multiple layers to protect our assets. For each security risk that we have tabulated, we should identify the preventive measures that could be used to reduce the risk” said Mr. Teevra Bose, Sr. Consulting Manager, Computer Associates Pvt. Ltd. He gave insight into security management, IT security policies and regulatory compliances.


Perhaps the event can be best summarized in Mr. Pavan Duggal words “IT Security has become an essential domain in the current IT era and it is but necessary for the policy makers to continuously outsmart the smart guys around”.


http://www.iitdmba.org/rostrum

The Event:

IIM Indore celebrated its Sixth Foundation Day on October 3rd 2005, Dr. S. P. Parashar delivered a stirring address, emphasizing on the youth and dynamism of IIM Indore, while maintaining that it was essential to look to improve and update the mission and vision that the institute had started out with. IIM Indore now has a two-year full time Post-Graduate Program, an eighteen month Executive Post-Graduate Program and is about to launch a full fledged Fellow Program in Management. Management Development Programs and in-company training programs are also conducted on a regular basis.

Mr. Baba Kalyani, Chairman and Managing Director, Bharat Forge and Chairman Board of Governors, IIM Indore, then introduced Dr. Rakesh Mohan, the Chief Guest.

Chief Guests Address:

Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India was the Chief Guest for the occasion. He spoke about the correspondence between economic reforms and Corporate Sector Performance in India. Dr. Mohan started informally by interacting with the audience, in a very simple, down to earth manner that contrasts starkly with his immense experience and knowledge.

Topic of the Lecture: Economic Reforms

He took the audience through three phases of the post-reform period, starting with the initial growth in the 1990s, followed by the deceleration in the late 90's, and the remarkable recovering we have witnessed since 2002. During the course of his lecture, Dr. Mohan discussed aspects like Industrial De-Regulation, Liberalisation, Tax Policy, Monetary Policy, the Financial Sector Strengthening and the Capital Market.
He carried the audience through a brief narrative on the measures that had been implemented over the years, such as industrial de-regulation, elimination of Capital Licensing, the removal of MRTP and several others. The impact of these could be seen almost immediately as the GDP rose sharply, and a large number of new companies were initiated.

Dr. Mohan's Advice to Companies of Today: Dr. Mohan stated that the economic slowdown in the late 1990s was a temporary setback, and companies would do well not to get too dejected when things were not too rosy, and also not to get over-excited when things were going well.

He also mentioned the Capital Market reforms that had been put into place that allowed companies to launch public issues without too much trouble, and without permission from the CCI (Capital Controller of India). The Establishment of SEBI and the permission given to FIIs to invest in the capital markets were major steps forward.

Outlook for the Future: At this stage Dr. Mohan injected a note of caution into the discourse, as he said that he did not see enough evidence of increasing investments by the corporate sector without which the current growth would be unsustainable. He said that companies should plan ahead with respect to world companies and economies.

He ended on an upbeat note, by saying that the economic reforms that have been implemented post Liberalisation have been very successful, as can be seen by their impact on the performance of the corporate sector.

An informative afternoon with one of the heavyweights of the economic arena.

While Xpressions 2005 was scheduled to officially start on the 3rd of October 2005, it was from the early hours of the 2nd that the visitors from all over the country had started to arrive. Thanks to an intricately and carefully designed control system, each participant was properly received and taken to their hostel rooms by their "buddies" from XIM. Budding managers from all over the nation were beginning to converge on the lovely XIM campus.

After the inauguration ceremony on the morning of the 3rd, Xpressions 2005 officially kicked off with the Conclave… a ceremony which saw the coming together of some of the India's best and most influential people to discuss a key issue. The issue being discussed this year was FDI, and how essential or important FDI is for the development of a nation. The chief guest was Mr. Praful Patel, the union minister for civil aviation. Other guests included Mr. Mahesh Murty (CEO, Passionfund), Mr. B.J. Panda (Rajya Sabha MP from Orissa), and Jagi Mangat Panda (Director, Ortel Communications). Not only did the conclave feature lively speeches by all the guests, it also saw some very relevant and thought-provoking questions from the audience (a fact acknowledged and appreciated by all the panelists).

The two biggest events of Xpressions, Kurukshetra and Skillcity were massive hits this time with greater participation from everyone. Skillcity, called "The hardest test of your softest skills", had a separate corporate round this time which saw the likes of Infosys taking part. It is a well known fact that soft skills go a long way in the making of an effective manager, and the game paid tribute to that fact.

If Skillcity was a roaring success, Kurukshetra was no difference. Teams from all over India matched their wits against each other in possibly the toughest and most lifelike test of their Business acumen and hard skills. In the end, it was an enjoyable and enlightening experience for one and all.

Quizzing has always been an integral part of the XIMB culture, and this fact was clearly evident during Xpressions 2005. There were a large number of choices available to any quizzing enthusiast, as Xpressions 2005 saw four different quizzing events spanning over different fields of study. Besides the general quiz, there was Brand Equity (quiz on brands), Finomenon (Finance quiz), and Interface (IT quiz).

For all fans of Rock Music, Xpressions 2005 proved to be the ideal hangout as the rock competition 'Decibelz' took place on the evening of the 4th. Teams from Kolkata, Bhubaneswar, XLRI and Darjeeling participated in the event and made it a grand success. The team from Darjeeling bagged the first prize, while the team from XLRI (Bodhi Tree) came second. Bodhi Tree was widely appreciated for their song about 'too many potatoes in the mess'. Atul of 'Silk Route' was the judge for the evening.

The IT Seminar held on the evening of the 5th proved to be a really educative and interesting adventure as various viewpoints were presented as to whether India should strive to achieve in the field of product development, or stick to services. Professor G.K. Nayak of XIM, Mr. Vishal Dev (Govt. Of Orissa), and Mr. Sanyal (Satyam) put forward their thoughts on the issue and also answered various questions which arose. The questions were interesting and ranged from issues like red-tapism to whether Indians were better suited for product development than services.

The event came to a conclusion with an amazing performance by the famous band 'Indian Ocean'. It was widely appreciated and enjoyed by everyone.

NITIE is blooming with corporate wizards, this October

Two lakes surrounded by beautiful hills, greenery all around, nature have bestowed the glory to the perfect reflection of corporate India in the form of an academia serving the country from last 41 glorious years. Welcome to NITIE, a unique color of the Indian industrial spectrum.

One can see the enhancing strength of the color by immersion of the rays in the form of corporate wizards joining the Alma Mater on October 8 in Sansmaran 2005.
The alumni network is strength of NITIE. Down the years, the alumni of NITIE achieved the respectable heights in corporate India.
The unique nostalgic event, Sansmaran is get together of alumni and their memories.
Some rays immersing to the color this year are
Ganesh Natarajan, Vice Chairman & CEO, Zensar Technologies
Vishal Garg, VP, CITIBANK
R.Suresh M.D. Stanton Chase
A.K Birla, Director a Marketing, Eicher Motors

This yearas Sansmaran will have an extended feather in term of PGDIE Eighth batch alumni event on October, 9. They will address the students and share their memories.

Lakshya 2005, the amalgamation of academia and industry is going to be staged in on 14-16th Oct.
The prestigious Lakshya Business Visionary Awards will be given to Mr. Ratan Tata, Chairman, TATA Group; Mr. Subir Raha, CMD, ONGC Ltd. and Mr. KV Kamath, MD & CEO, ICICI Bank

The Lakshya Business Visionary Awards are given to those people who have achieved great heights for the society and India by the vision especially in business. These people are an inspiration to billions of people everywhere.

Mr. Ratan Tata, Chairman, Tata Group has led Indiaas most trusted organization into the new economy to the global map having steered companies like Tata Motors, Tata Steel and Tata Tea making them Indian MNCs. He has received an honorary doctorate from University of Warwick recently and by the Ohio State University in 2001. In 2000, the Government of India honoured Mr. Tata with Padma Bhushan. Mr. Ratan Tata holds positions in many boards both national and international including the Reserve Bank of India and Prime Ministeras council on Trade and Industry.

Mr. Subir Raha, ONGCas C&MD; the second most influential oil man in the country, in a survey titled India's Top 10 Oilmen by Upstream magazine. He will be acknowledged for his unparalleled role in transforming ONGC within a short span of just three years. He has also been credited with the turnaround of ONGCas sister concern MRPL, whose success today is a case study in growth.


Mr. KV Kamath, MD and CEO, ICICI Bank Ltd, who has been voted as the most e-savvy CEO amongst Asian banks has led the Indian financial sector to new heights. The strategic initiatives and structural changes subsequently instituted by him across the ICICI Group have helped ICICI to re-draw its boundaries and increase its business potential.

Lakshya Business Visionary Awardees over the previous years have been Mr. Adi Godrej, Mr. Nandan Nilekani, Dr Varghese Kurien, Mr. M S Ramachandran, Mr. Sunil Bharati Mittal, Mr. Jerry Rao, Mr. Ajit Balakrishnan, Mr. Kumar Mangalam Birla, and Mr. S. Ramadorai.

Lakshya, Indiaas first on-the-job achieversa contest is hosted in NITIE by the PGDIE students every year. This year it will be the seventh edition of the event.
It is a platform for companies to present their successful projects to the jury and compete for the prestigious Lakshya Trophy in four modules
 Supply Chain Management
 Operations Management
 Systems & IT Management
 General & HR Management

Lakshya has become a benchmark in the industry to know the competitive status of an organization with others. Lakshya 2005 received 63 entries from various companies. The winners of Lakshya 2004 were Titan Industries Ltd, TVS Motor Companies Ltd, GE Software Solutions, and Johnson & Johnson Medical in the various modules.
For further information visit http://www.lakshya-nitie.com/