Saturday, September 27, 2008

Right hair, right now

Finally, a fairytale ending for a timeless ‘hairytale’ ?!
Barring phallus and breast size, nothing in the history of mankind has interested, mystified, intrigued and puzzled humans about personal appearance more than human hair… or the lack of it. Annals have pointed to some bizarre and weird methods to hide male and female baldness. Chinese used to wear Nawaz Sharifhorses’ tails on their heads. Greeks would eat hair to get hair. Some tribes also believed that washing hair with certain animal’s blood would revitalise their thinning hair. Then came the wigs, which were almost patronised by Queen Elizabeth I in 1600s in her court with her legendary red and curly wig. Since then, till early 20th century, almost all men and women of prestige and power customarily wore wigs in the English and the French courts.

And in our times, came the resurrection in the form of hair weaving and hair transplant. Though on the pricy side, it did provide means by which harrowed people could conceal their receding hairlines. However, it was a curative measure rather than preventive.Continue....
Source : IIPM Editorial, 2008
Read also :-

Tuesday, September 23, 2008

Curbing inflation

Curbing inflation seems to be the major concern for RBI. But is the over emphasis on inflation hurting growth? Yes and no! Inflation, which is an iniquitous tax, hurts the poor more than the rich, and must be undoubtedly contained. To that effect, the banking industry seems to have paid heed to RBI Governor Y.V. Reddy’s suggestion (or was it an order?) that “net interest margin of banks was high and there was scope for reducing lending rates.” Considering the fact that non-food credit off-take has come down in the recent past, large banks like SBI, HDFC and ICICI decided to bring down the rates. Thanks to the ‘peer fear’, other banks are falling in line. Increasing credit flow to small scale and medium enterprises, and providing a boost to the housing sector as well as to other productive sectors are amongst the few cited positive effects of the rate slash. But in reality, have banks bent down because of a political diktat from the finance ministry?

Dr. Mukesh Kumar Anand (Senior Economist, National Institute of Public Finance and Policy) rules out the logic, and says “The finance ministry does not interfere with the banks in deciding their rates; the finance minister and the RBI governor merely asked them to consider a reduction in rates in order to boost growth.” But sir, that’s not what many banks are telling us. In fact, the smaller banks are waiting for a deeper rate cut, before following suit. Given the situation, bankers with a good quality portfolio and improved operational efficiency would benefit the most. And the rest will need to shape up. According to Ritesh Maheshwari (Senior Director, Financial Institutions Rating, Standard & Poors), “In 2008, the Indian banking system will continue to reap benefits of a strong domestic growth.” It is expected that prudent monetary policy changes will help bring about the benefit of anchoring inflation expectations. With inflation rate under control, interest rates could come down by 25 basis points or so, or remain stable.

Tied in exchange knots

On a visit to Tirupur, which is around an 80 minute drive from Coimbatore airport, there’s hardly anything that would strike you as particularly spectacular, barring the larger-than-life banners of AIADMK chief Jayalalitha and her party leaders. Even the locals grudgingly admit that there is not one tourist attraction to boast off, and if it were not for the giant strides made as an export hub for knitwear, Tirupur would have had a very slim chance of moving out of obscurity. But move out it did, and how, thanks to Verona, an Italian merchant who recognised the potential and brought in a deluge of business opportunities for these hardworking, entrepreneurial people, mainly from Europe & America. Indeed, the story of Tirupur is, in many ways, a story of the Indian resurgence in manufacturing and exports. Local exporters have been servicing many high-profile international apparel brands like Nike, Adidas, Arrow, Tommy Hilfiger, and departmental chains like Wal-Mart, Target, Sears and Mother Care. In 2006-07, Tirupur’s turnover was a whopping Rs.110 billion.

However, nothing could have prepared these people for the rude shock that came up last year, when the rupee appreciated by almost 14% to the dollar in a very short span of time, making it extremely difficult for them to negotiate better terms with their buyers. Largely unaware of the vagaries of financial markets and hedging techniques, many exporters, who were bullish about expansion till early last year, are now looking for ways to sustain, thanks to business lost to competing countries like Bangladesh, China, Sri Lanka, and Indonesia. Sums up S. Sakthivel, Executive Secretary, Tirupur Exporter’s Association, on the impact, “We were enjoying annual growth rates of over 25% since the last two financial years. But we are expecting to register a turnover of Rs.90 billion for the financial year 2007-08 (which is, in fact, a negative growth of nearly 20%).”

For Complete IIPM Article, Click on IIPM Article

Source :
IIPM Editorial, 2008
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

Read these article :-
ZEE BUSINESS BEST B SCHOOL SURVEY
B-schooled in India, Placed Abroad (Print Version)
IIPM in Financial times (Print Version)
IIPM makes business education truly global (Print Version)
The Indian Institute of Planning and Management (IIPM)
IIPM Campus

Top Articles on IIPM:-
'This is one of Big B's best performances'
IIPM to come up at Rajarhat
IIPM awards four Bengali novelists
IIPM makes business education truly global-Education-The Times of ...
The Hindu : Education Plus : Honour for IIPM
IIPM ranked No.1 B-School in India, Management News - By ...
IIPM Ranked No1 B-School in India
Moneycontrol >> News >> Press- News >> IIPM ranked No1 B-School in ...
IIPM ranked No. 1 B-school in India- Zee Business Survey ...
IIPM ranked No1 B-School in India :: Education, Careers ...
The Hindu Business Line : IIPM placements hit a high of over 2000 jobs
Deccan Herald - IIPM ranked as top B-School in India
India eNews - IIPM Ranked No1 B-School in India
IIPM Delhi - Indian Institute of Planning and Management New Delhi ...domain-b.com : IIPM ranked ahead of IIMs

Monday, September 22, 2008

‘Rate’d down, once again

US policy makers need to move beyond just rate cuts to keep recession at bay or else they will loose the grip
When the US economy sprinted through the third quarter 4psof FY 2007 at 4.9% (its fastest pace in the last four years), many felt that the worst was over. But, as the US Commerce Department, on January 30, came out with the latest numbers, it only provided further credence to the arguments that the US is knocking on the door of recession, if not already in.

Managing just 0.6% growth rate - its weakest in the last five years, the US GDP grew way below the industry expectations of 1.2% for the fourth quarter. Well, the main culprit once again was the tumbling housing sector that further chopped off a sizable 1.2% off GDP last quarter as spending on housing projects witnessed a deep cut of 23.9%, the most since 1981. Even the labour market weakened at 4.9% – a pace that in the past had showed the way to recession. The decline indeed poses a further threat to consumer spending that has already slowed to 2% from 2.8% a quarter earlier. Affirms Jay Bryson, Global Economist at Wachovia, “The perfect blend of a weakening labour market, plunging house prices along with a sharp credit contraction will continue to put pressure on the economy further putting a stop on consumer spending.”

No doubt, the situation is frightening and the policy makers are doing what seem best to them. What else? Go for rate cuts! Since September 2007, the Fed has cut its short-term policy rate by 225 bps to 3% from 5.25% – all to ease the economy. The industry even predicts further cuts as rates are still way above the 1% level in 2003. “We foresee a further rate cut by 25-50 bps by March,” agrees Dean Maki, Chief US Economist with Barclays Capital. Although, the Fed action will boost the liquidity in the economy. But then one should not forget that it was the rally of cuts in interest rates in 2001-03 (the last downturn), that sowed the seeds of the ongoing housing and credit crunch. Well, what about inflation, which is already proving to be double whammy for the economy watch dogs? Fed Chairman Ben Bernanke is already been under criticism for being far too cautious. And if these cuts also prove to be temporary (which of course have a better chance), it would only worsen the situation.

The core personal consumption expenditure deflator (an important indicator of inflation) is already at 2.7% on an annualised basis – the second fastest since 2005. And as such, the threat of stagflation (a situation of both economic sluggishness and rising inflation) has to weigh on the Fed decision before it goes for another rate cut, otherwise it will lose its grip on the economy (or has it already?).
For Complete IIPM Article, Click on IIPM Article

Source :
IIPM Editorial, 2008
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

Read these article :-
ZEE BUSINESS BEST B SCHOOL SURVEY
B-schooled in India, Placed Abroad (Print Version)
IIPM in Financial times (Print Version)
IIPM makes business education truly global (Print Version)
The Indian Institute of Planning and Management (IIPM)
IIPM Campus

Top Articles on IIPM:-
'This is one of Big B's best performances'
IIPM to come up at Rajarhat
IIPM awards four Bengali novelists
IIPM makes business education truly global-Education-The Times of ...
The Hindu : Education Plus : Honour for IIPM
IIPM ranked No.1 B-School in India, Management News - By ...
IIPM Ranked No1 B-School in India
Moneycontrol >> News >> Press- News >> IIPM ranked No1 B-School in ...
IIPM ranked No. 1 B-school in India- Zee Business Survey ...
IIPM ranked No1 B-School in India :: Education, Careers ...
The Hindu Business Line : IIPM placements hit a high of over 2000 jobs
Deccan Herald - IIPM ranked as top B-School in India
India eNews - IIPM Ranked No1 B-School in India
IIPM Delhi - Indian Institute of Planning and Management New Delhi ...domain-b.com : IIPM ranked ahead of IIMs

Saturday, September 20, 2008

Recent liberalisation will boost investments

“Policies were aimed to provide healthy competition, and level-playing field”
In a high growth sector, there is no need to trim staff. With the sector booming, every one can be accommodated, Union Civil Aviation Minister, Praful Patel, tells B&E’s Ranjit Bhushan in an interview. The minister, who is credited with turning around the civil aviation ministry in his four-year-stint, adds that far-reaching changes are going to be brought in its FDI policy to encourage private investments.

Your tenure has marked a definite turnaround in the prospects of the civil aviation sector. What do you attribute this upturn to?

The aviation sector has evolved over the past few years. The change in mindset in both the public and the private sectors has led to more competition, competitive and affordable fares, and more passengers. The reasons are clear and strong policies of the government have been aimed at providing healthy competition and level playing field to both the public and private players. The government has played a great role as being a facilitator in this sector. Your speech at the US-India Aviation Summit last year was impressive.

What are the gains that you see accruing from the deal? Also, technologically, the US aviation industry is light-years ahead of us. Which are the areas of common interest between the two countries?

The purpose of the US India Aviation Cooperation Programme is to improve coordination of US assistance to the Indian civil aviation industry, including the identification of aviation training and technical assistance meets, communication meets, and improving coordination with the US Government entities including the Federal Aviation Administration (FAA), US Trade and Development Agency (USPDA) and the US Department of Commerce.

The programme will be funded with the assistance of USTDA and would enhance safety, operational efficiency and system capacity of the aviation sector. The Union government has also approved a Memorandum of Agreement with the US in the civil aviation sector, which will provide the framework for seeking assistance of the Federal Aviation Authority in developing civil aviation infrastructure in managerial, operational and technical areas, as and when required.

You talked about attracting FDI, about more US involvement in Indian aviation. Is that going to be a reality?

The Union government on 30 January, 2008 liberalised and enhanced the FDI policy in the civil aviation sector. This is expected to greatly boost investments by not only American, but also other foreign companies in Indian aviation.

The market share of national carriers has gone down with more private competition coming in. And a lot of it has happened during your tenure as the minister. Do you see a situation wherein the national carriers could become minor players in the company of many private operators, big and small? Although the number of passengers carried by the national carriers has increased considerably, registering a growth of almost 25%, the market share has been impacted due to the entry of private airlines, availability of low cost carriers, decline in capacity share, and delay in acquisition of new and latest technology aircraft. However, a number of initiatives have been undertaken like acquisition of new aircraft, merger of Indian and Air India, aggressive marketing and sales initiatives, which has resulted in marked improvements in market share.

For Complete IIPM Article, Click on IIPM Article

Source :
IIPM Editorial, 2008
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

Read these article :-
ZEE BUSINESS BEST B SCHOOL SURVEY
B-schooled in India, Placed Abroad (Print Version)
IIPM in Financial times (Print Version)
IIPM makes business education truly global (Print Version)
The Indian Institute of Planning and Management (IIPM)
IIPM Campus

Top Articles on IIPM:-
'This is one of Big B's best performances'
IIPM to come up at Rajarhat
IIPM awards four Bengali novelists
IIPM makes business education truly global-Education-The Times of ...
The Hindu : Education Plus : Honour for IIPM
IIPM ranked No.1 B-School in India, Management News - By ...
IIPM Ranked No1 B-School in India
Moneycontrol >> News >> Press- News >> IIPM ranked No1 B-School in ...
IIPM ranked No. 1 B-school in India- Zee Business Survey ...
IIPM ranked No1 B-School in India :: Education, Careers ...
The Hindu Business Line : IIPM placements hit a high of over 2000 jobs
Deccan Herald - IIPM ranked as top B-School in India
India eNews - IIPM Ranked No1 B-School in India
IIPM Delhi - Indian Institute of Planning and Management New Delhi ...domain-b.com : IIPM ranked ahead of IIMs

Tuesday, September 02, 2008

BCCI’s performance as a cricket administration

But Pawar has many critics, who feel that BCCI’s performance cricketas a cricket administration institution and as a positive for the team is not up to the mark. “It’s easy to manipulate the masses when it comes to winning elections. But to really manage the Indian cricket team, you need to be an emotionally intellectual person, which Pawar isn’t at all,” feels a former cricketer who knows the BCCI President for the past five years. For instance, they say that the BCCI shouldn’t have been so quick in asking the Indian team to continue with the current Australian tour after what happened during the second test at Sydney. It should have waited to gauge the mood of the team and taken into account the feelings of the manager. In the end, BCCI had to backtrack and use its clout to force the ICC to arrive at a face-saving solution.

In a cricket crazy nation, if there’s anything that combines the denizens of this country after cricket, it is politics. But unlike the men-in-blue who are almost worshiped (only when they win), politicians are not as fortunate. So, can the two marry? Maybe, maybe not. But Pawar, who has the knowledge of grassroots feelings and emotions, is capable of having a long, patient, and courageous innings.
For Complete IIPM Article, Click on IIPM Article

Source :
IIPM Editorial, 2008
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

Read these article :-
ZEE BUSINESS BEST B SCHOOL SURVEY
B-schooled in India, Placed Abroad (Print Version)
IIPM in Financial times (Print Version)
IIPM makes business education truly global (Print Version)
The Indian Institute of Planning and Management (IIPM)
IIPM Campus

Top Articles on IIPM:-
IIPM to come up at Rajarhat
IIPM awards four Bengali novelists
IIPM makes business education truly global-Education-The Times of ...
The Hindu : Education Plus : Honour for IIPM
IIPM ranked No.1 B-School in India, Management News - By ...
IIPM Ranked No1 B-School in India
Moneycontrol >> News >> Press- News >> IIPM ranked No1 B-School in ...
IIPM ranked No. 1 B-school in India- Zee Business Survey ...
IIPM ranked No1 B-School in India :: Education, Careers ...
The Hindu Business Line : IIPM placements hit a high of over 2000 jobs
Deccan Herald - IIPM ranked as top B-School in India
India eNews - IIPM Ranked No1 B-School in India
IIPM Delhi - Indian Institute of Planning and Management New Delhi ...domain-b.com : IIPM ranked ahead of IIMs