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CMACMAeMageMag BI-MONTHLY MAGAZINE OF CHANDIGARH MANAGEMENT ASSOCIATION

March 2011Issue 8

INSIDE

A Perspective on the Need for Change in Organisations

Transparency in Spectrum A Must

Application of Pareto's law to Business

India's Mediocre Billion Plus

Paradise in Peril

Important Characteristics of Successful Entrepreneurs

Why you need to leave your relief sector

Align your processes for a right SHEQ-up

Microfinancing

Book Review

Mankind at Cliff's Edge

Event - Shaping Young Minds

Punjabi Juttis --- The Ethnic Choice

Learn Excel

Build

SkillsDevelopment

2010-11



Foreword

Dr. Gulshan Sharma

President CMA

& Executive Director

ITFT College-Chandigarh

Ph.D (Service Industry) ACTE (WTO) Spain, WT (USA)

A new era has ushered globally with the introduction and advancement of information

technology, press, media and entertainment industry and other related streams which

have revolutionized our thinking, having a profound effect on what we teach and learn.

Our quest for knowledge and our constant endeavour to achieve excellence in all fields

of activity is pushing further the ever increasing frontier of knowledge.

One area, which the education system in our country should address, is to develop

skills rather than creating degree holders at the tertiary level. It is also a matter of

concern that some time ago, according to a study by Mckinsey, only one third of the

engineering and management graduates passing out of the Indian Universities and

other institutions are employable.

Education in advanced countries is considered investment and not expenditure

and similarly developing human capital is considered the most important resource in

economic growth and attainment of full employment.

Failure in quality education and skills, lack of technical and vocational training and

inappropriate policy makes it imperative that our educational systems need a structural

change. However, the dire need of today is to evolve some kind of mechanism for

constant interaction between industry, academia and government.

Keeping in view that development of human resource is crucial coupled with skill

development of our youth to make them employable both in the domestic and global

markets; Chandigarh Management Association has chosen this as the theme for the

year.

I am thankful to all members of the executive members and members at large, who

have provided me their ful support to carry forward the message of skills development

for employability in its various events held in the recent past.

I am sure as usual you will find this issue of eMag interesting and useful. Kindly keep

contributing your views in our future endeavors.

CMAe Mag



CMAe MagContents

Page No.

1-2

3-4

5-6

7-8

9-10

11-12

12

13-14

15-16

17-18

18

19

20-22

S.No.

1

2

3

4

5

6

7

8

9

10

11

12

13

Subject

A Perspective on the Need for Change in Organisations

Transparency in Spectrum A Must

Application of Pareto's law to Business


Paradise in Peril

Important Characteristics of Successful Entrepreneurs

Align your processes for a right SHEQ-up

Microfinancing

Book Review of Dr. PK Vasudeva


Event - Shaping Young Minds

Why you need to leave your relief sector

Punjabi Juttis --- The Ethnic Choice

Dinesh K Kapila

DR. P. K. Vasudeva

Col (Retd) K.K. Sharma

Col (Retd) D S Cheema

CA. Manmohan Kumar Garg

Anoop Luthra

Prof Priyavrat Thareja

Pankaj Shukla - Ruby Shukla

Brig Ranjit Banerji (Retd)

Prof. N.K. Sharma

Alakshita Pasricha

by JN Vohra



CMA

“It must be considered that there is needs is the strength to assess what hasnothing more difficult to carry out, nor to change and the capability tomore doubtful of success nor more materialize that change. The smootherdangerous to handle than to initiate a the process, the more effective it is.new order of things”, Machiavelli in 'The The scenario which exists when thePrince'. process of change is initiated can be

The compulsions for change are extremely varying; with the CEO statingmanifold in today's world; these could 'we have got to change', the Heads of be external or internal to an Divisions discussing “do we really needorganization. The main external factors change' to “maybe we do need change”are the impact of liberalization, at the middle management level andi n c r e a s i n g g l o b a l / n a t i o n a l finally 'can we have change” at the frontcompetition; changing customer needs, line level. The reactions can be radicallydiversification of the core businesses, different from the just discussedamalgamations / mergers etc. scenario as driven by ideology,

The main internal factors driving perceptions of layoffs, lack of

change are mostly a lack of role clarity p ro m o t io n a l a v e n u e s , fe a r o f within organizations, poor employee d i s p l a c e m e n t a n d l a c k o f morale and brand equity of the understanding, employees can undergo

organization, inter divisional frictions, a wide range of emotions and stress.

an excessive internal focus of an An example could be employees atorganization, prolonged losses, inability various hierarchical levels opposing theto sell the existing products optimally, public issue of shares in PSUs onnot aligning the organization structure g r o u n d s o f i t s a m o u n t i n g t o

with the evolving market conditions etc. privatization or preferring only seniorityDRIVERS OF CHANGE in promotions as per tradition.

The main drivers for initiating the Moreover, organizations at times make

change process are nurturing on-going t h e c a rd in a l e r ro r o f ro u t in g

relationships with clients, listening communication through Unions /

Associations while a vital issue such as

initiating the process of change should

be communicated by a direct mode

through informal / formal media by the

senior management.

AREAS OF CONCERN

Continuous change is a reality in today's

world and if an organization adapts to

this as an integral part of its DNA, the

c losely to the customers and stress levels remain minimized.employees, motivating and developing However, the best of organizations haveemployees by sharing knowledge and at times slipped in adapting to changeprofits, empowering employees so that and brought

they exceed customer expectations, about radical

encouraging team building and team organizationa

spirit and developing a keen antenna for l a n dchanges and developments in the e m p l o y e eexternal environment. stress while

The CEO and his core team have to be c r e a t i n g a

especially vigilant about employee r e va m p ed

sensitivities and apprehensions while organization.

planning the process of change. The There are six

core strength that an organization main areas of

Dinesh K Kapila

Assistant General Manager

NABARD

A Perspective on the Need

for Change in Organisations

e Mag



concern which mostly lead to the need to initiate the touch with customers and concentrates on products

process of change in a short period of time rather than by whose markets are in terminal decline (note office

a gradual effortless process. automation companies of yesteryears in cyclostyling /

typewriters etc). Feedback generated from the field mayAmongst the six areas of concern, firstly, the CEOs andnot be distilledSenior Management may have a limited understandingand interpretedof what their organisation is all about, strange though itc o r r e c t l y f o rmay seem. They may also lack a holistic knowledge aboutc o u r s ethe company's strengths and weaknesses. There is acorrections to betendency to manage by fads and individual drives, such

adopted. Thisas a new transfer policy every year. There could also be a l e a d s t o a nneglect of the core expertise of the organization and theinability to trackcreation of measurable objectives. Finally, un-researchedshifting customerprojects may be taken up in the drive for diversification.needs at the topSecondly, there could be a failure of vision. Them a n a g e m e n torganization may not set itself clear goals or work out alevel.strategy to achieve them. The vision may not stretchA t t i m e semployees and may neglect the onset of competitionc u l t i v a t io n o f and adoption of better technology or products by rivals.spec ia l ized orNot preparing a strategy for tackling roadblocks andbulk customers isshort-sightedness in the choice of technology and workignored or recovery of lost customers is delayed. Forprocesses for the future is another crucial grey area.example, some bank branches of PSU Banks /The third aspect is financial, the organization may getCooperative banks in rural areas ignored their mainoverburdened in debt in a concern to scale up rapidly

customers only to lose them to nimble footed(remember Subhiksha and Vishal Retail), may be unablecompetitor's private sector banks looking for an opening.to generate cash and the assets on which creditThe sixth but equally crucial aspect is motivational orworthiness was based lose their value under difficult /

internal. Discontent at middle or supervisory levelchanges circumstances (the pager industry losing to thebecomes a roadblock in improving performance. Lack of mobile industry or the cable industry being challenged byempathy with employees and a focus on self-interest atthe satellite receiver industry).senior management levels rather than employee welfareFourthly, we can classify it as a prolonged continuation of impacts employee morale adversely. Rewards anda comfort zone in an organization. It could also beassessment processes if not transparent and as per thelabelled as smugness. A tradition of success convincesprecepts as preached by top management alsothe organizationcontribute to low morale and low productivity.that the existingCompanies unable to offer long term stability or clearm o d e l w o u l dcareer paths and prospects witness diminishedcontinue to deliveremployee loyalty and effectiveness. The brand equity of positive outcomes

an organization also carries weightage in employeei n t h e f u t u r e ,motivation, in case the brand equity diminishes, attritionmaybe with minoror low productivity is almost certain.t i n k e r i n g

(Hindustan Motors Conclusion

is an example). It is The factors as detailed above, in combination or by inalso factual to acknowledge that human nature finds it isolation, ultimately impart a momentum to eventsdifficult to reject or disown old techniques and strategies which makes a change process inevitable in case thethat have worked, (specially the case with managers who organization is to survive as a vibrant and profitableput in a longish tenure in an assignment and may become entity. The art lies in identifying changes in the operatingcomplacent). environment in time or tracking employee morale by

Organization bureaucracies also attempt to stifle new effective HR policies. This would impart an overall

ideas as it is perceived to threaten the status quo or their smoothness to the process of imparting changes to the

existence. There is also a scenario that the management organizational processes and systems. This should be

continues to rely on old models hoping that the akin to the sailing of a super tanker and its docking; it has

operating environment is only undergoing temporary to be smooth, planned in advance and each degree of

blips and would restore itself to their comfort zone. turn required mapping out in detail. Neglect of the issues

Complacency or smug ness also tends to blunt as described above either results in an organization's

com pet it ive edg es. Even organi satio ns with a downfall or crystallizes in the need for cataclysmic

monopolistic market should never take their intellectual changes, with adverse fallout in terms of stress,

/ knowledge assets as consistently superior to that of organizationally or for employees.

emerging rivals as the operating environment can

change radically rendering the organization floundering The views expressed in this article are his personalfor a viable model (note that IDBI the DFI had to change views of the author and do not necessarily representover to IDBI Bank). the views of his employer.The fifth aspect is crucial, that is being out of sync or in

touch with the real market. The organization loses its

CMAe Mag



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CMA

The report carried in media about the In the instant case, for example, the S-

peculiarly one-sided contract between band frequency used to have somethe Indian Space Research Organisation value, which dropped to almost nothing

(ISRO) and a private entity called Devas, when the technology changed but, withwherein satellite transponders and a another change in technology, has once

wide swathe of frequency spectrum again acquired value.were leased out for a fraction of the It was partly in recognition of this thatlatter's current commercial value, once the Government const i tuted aagain brings into sharp focus the need to committee to advise it on spectrumconstitute an entity that will oversee the pricing two years ago. It will be argued by

allocation/leasing of spectrum. some that such committees do not serveThe Comptroller and Auditor General the purpose for which they were

(CAG) is asking a series of questions from intended. While there is some truth in

the Department of Space in this regard. It that, going by the principle of something

believes that, on a presumptive basis, is better than nothing, the time has

more than Rs 2 lakh crore may have surely come to dilute the absolute power

foregone by the exchequer as a result of of the Government in such matters be itthe contract. Eventually realistic figures a resource under the land, over it or

may vary, but the fact of revenue loss above it by introducing a system of cannot be overlooked. Though the checks.

government has annulled the contract Who knows, for example, what's beenand the defence ministry has raised going on in the Defence sector, which iseyebrows as to why it had not been squatting on huge amounts of spectrum?

consulted on such an important and Who would have thought that theserious security issue. However, such Department of Space, which is directlylosses have to be prevented in future. under the Prime Minister, would have

Regulate market for spectrum been so careless? Under any shroud of

secrecy, costly mistakes can be made,As a matter of fact, in purely economiceven when there is no mala fide. Secrecyterms, wireless spectrum is no differentcannot be compromised. The last 63from oil or gas field or a coalmine, or evenyears bear ample testimony to this.just plain government land. The common

feature is government ownership and In a sense, what needs to be done is toconstantly changing commercial value. introduce a well-regulated market for

spectrum, which is the composite name

for a range of frequencies that are put to

different uses. Such a market will ensure

reasonably accurate price discovery and

it will be superior to the current system

where private information, ministerial

discretion and plain negligence can and

do lead to thoroughly undesirable

outcomes. The Government needs to

create a well-regulated market for

spectrum, which will ensure accurate

price discovery. It is time India moves to a

system where prices of scarce resources

are determined by the market rather

than by a command-control-corrupt

model.

Transparency in Spectrum

A Must

DR. P. K. VasudevaFormer Senior Professor

ICFAI University



CMAe Mag

One of the premises of the economic reforms that the with additional investments in infrastructure such as cell

Prime Minister initiated when he was Finance Minister sites; their assessment of how much spectrum they will

during 1991-96 was that bureaucrats would no longer seek is therefore conditioned by the price of the

manage businesses. A subset of this was the non- marginal spectrum and the marginal investments theynegotiable requirement that they do not set prices need to make. Arbitrary price setting, especially one

because, as everyone knows, price distortions are a that disregards these economics and dynamics, canmajor reason for the misallocation of resources. But

habits die hard,

especially when

t h e y c a n b e

beneficial as well.

So it should come

as no surprise

even if it causes

some dismay that

t h e T e l e c o m

R e g u l a t o r y

Authority of India

( T R A I ) i ncripple the industry and push it towards a structuref o r m u l a t i n gcomprising a small oligopoly just three or four firmsp r i c i n g o f 2 Ginstead of a more robustly competitive market withspectrum, used byeight or more players. The former would encouragethe current set of

collusion and the consumers' happy hours would bem o b i le p h o n eover.companies, should have decided that prices are not bestIt is time India moves to a system that allows prices to beleft to the markets. As a result it has not provided a long-determined by the market rather than a Soviet-styleterm solution to pricing a scarce resource; nor does itcommand-control-corrupt model.address issues that queer a level playing field. What it

does is to create more confusion in an industry already Government is now after a set back on the S-spectrum

bogged down by various scams. scam thinking over to bring industry top guns like

prominent bankers and former regulators on board inThe calculations are based on a number of assumptionsorder to amend the entire financial sector norms andthat leave too much room for bureaucraticalso to suggest ways to fortify its supervision system forinterpretation. It also seems to have ignored the factchecking frauds and irregularities.that the recent auction of 3G spectrum has firmly

established that the cost of a resource such as spectrum The panel will be responsible for reviewing and

should be determined through a market-based updating the entire financial sector regulations.mechanism. Instead of suggesting such a mechanism, According to sources, people from the legal fraternity

the telecom regulator has stuck to linear calculations. In will also be included in the group and a former Supreme

May 2010, TRAI said that 2G spectrum should be Court judge might chair it.allocated on a pro-rata based on the 3G price. Nine Finance Minister Pranab Mukherjee in his last budgetmonths later, after a review by four external speech announced Top of Formconsultants, it has thrown up another figure. Perhaps

the panel, as "Financial Sector Legislative Reformsanother review by a different set of experts would

Commission" (FSLRC). The final Terms of Referencesuggest a new price. Rather than relying on some

(TORs) and constitution of the panel will be made aftermathematical equation, TRAI should have found a way

consulting with stakeholders and financial sectorto put the spectrum in the market place.

regulators RBI and SEBI.MARKET DRIVEN PRICING

Looking at the growing number of scams, the need toThus, it has suggested that the Government should rewrite financial sector regulations has become more

collect a one-time fee from operators with 2G spectrum relevant, said sources. RBI Act, framed in 1934,at the rate of Rs 1,769 crore per Mhz of spectrum up to Insurance Act of 1938, Public Debt Act of 1944 and6.2 Mhz and Rs 4,571 crore per Mhz for anything beyond Securities Contract Regulation Act of 1956 are some of that. This will cost the telecom firms about Rs 16,000 the old financial rules that are need to be rephrased. It iscrore, according to Government estimates. Over the never too late to carry out reforms.next few years, this could go up to Rs 40,000 crore, when

the operators go for renewing their licences. WhileAuthor can be contacted at there is no denying that spectrum should be priced atE-mail : [email protected] levels, asking operators to pay with

retrospective effect seems incorrect.

Phone companies can trade off spectrum requirements



CMAe MagApplication of Pareto's

law to Business

Col (Retd) K.K. Sharma

CH Adam Smith Institute of Management

Abstract principle, its applicability to the

business and inferences that businessIn 1897, Vilfredo Pareto, an Italianmust deduce to remain competitive insociologist and economist laid downthe market.his deeply studied observations, that

80 percent of Italian wealth was in the Introductionhands of 20 percent people. In other

Vilfredo Pareto's principle has alsoliterature and discussions, it is also

been applied to state that 80 percentdefined as 80 percent of the effects

of Italian land was owned by 20coming up due to 20 percent of the

percent of the people. In effect, one of causes or famous 80:20 principle. its many interpretations has been thatWhile many have debated this

80 percent of the objectives areinterpretation as partially true, we

achieved with 20 percent means. Thewitness many examples where it fits

challenge in any business enterprise isthe mould perfectly. Even now 80

to identify those means and focus

maximum resources and efforts of the

enterprise on these, instead of

frittering one's energy across other

less contributing means. The principle

or law has a reasonable applicability in

life as in business or other work

places. Efforts need to be put in to

identify those 20 percent clientelewhich consumes 80 percent of the

products and nurture them as loyal

customers.

In the current economic scenario with

its volat i l i ty , employers and

employees need to do more with less

tools and resources. This lesson aligns

w e l l t o P a r e t o ' s r u l e a n dpercent of the wealth is with less than

understanding this rule actually helps20 percent the world over or 80

us to identify points of leverages in lifepercent of the world's natural

as well as business.

resources, mainly from the tropical Application for BusinessSouth are consumed by 20 percent

countries of the world, mainly from Some of the direct interpretations of the North. Like in nature, human Pareto's law on business are aendeavours also show us that nothing follows:is evenly distributed in this world.

80 percent of output originatesFor business one of the earliest from 20 percent of input.realisation and application has been,

The 80:20 ratios are also appliedthat most companies earn their 80

to revenues.percent revenue or profits from 20

percent of the customers. This short 20 percent advertising efforts

p a p e r c o v e r s f u n d a m e n t a l fetch 80 percent eyeballs.

interpretations of Pareto•fs 80:20



CMAe Mag

80 percent of management issues, attrition, innovative ways - like keeping an exclusive list,work ethics problems or cases are believed to periodic phone calls, a client newsletter, annualbe caused by 20 percent of the employees. meetings and deputing a contact manager (Morrow

1996). This is being done by the banking industry for 20 percent of the customers account for 80High Net Income group persons by giving thempercent of sales.privileged client attention and thus facilitating

20 percent of components involve 80 percent of personal banking and care. Similarly in thecosts. organisation, 20 percent employees need to be

identified and updated on a regular basis as they 20 percent of the vehicles cause 80 percent of carry the company across 80 percent of the time.the pollution.

Business has to depend on better IT enabled dataAll above interpretations give us an inter-

mining and reporting as also tools for analysis withrelationship between high level of efficiency or

near 100 percent accuracy.inefficiency (up to 80 percent) with relatively limited

References : means up to 20 percent. One has to be careful to

note that all these interpretations are generalized 1. Rooney, Paula : Microsoft's CEO: 80-20 Ruleand not necessarily accurate on all occasions and for Applies To Bugs, Not Just Features, (October 3,all industrial sectors. Application will also differ from 2002), ChannelWeb.one industry and functional department to other.

2. Morrow Edwin P : Applying Pareto•fs laws;Identification and analysis of 20 percent inputs will practice and Technology, Journal of Financialprepare an industry for a better product life cycle, Planning, Oct 1996.

after sales servicing and inventory management. 3. Slaybaugh, C.J. : Time and Efforts, where toSimilarly industry or company needs to concentratespend more and where to spend less; Pricethose 20 percent revenue avenues which are givingWaterhouse Review; June 1967.maximum returns with a focused strategy. For an IT

company, it could be the IT consultancy or off-

shore/on-shore projects or hardware manufacturing

and support. Marketing departments can leverage

20 percent efforts and fund these efforts

accordingly. After sales service has become an

extremely important function to retain customer

loyalty. As Roony Paula (2002) reports that Microsoft

has been addressing and fixing the top 20 percent of

t h e m o s t

reported bugs,

a n d

c onsequent ly

eliminating 80

percent of the

e r r o r s a n d

crashes without

having to do

anything. It also

proves that the

time and efforts

of the management must vary as per the product,

component or service in question, and itsimportance to the overall objective of the company

or product (Slaybaugh C J, 1967). Inventory

management has been done on ABC or Economic

Order Quantity methods based on the same

Pareto•fs Principle. (ibid 1967).

Application on the Human Resource Management

functionaries is direct, as regards to the employees

and other stakeholders. There is a need to identify

those minority customers who are loyal and account

for 80 percent of the sale volumes. Therefore, there

is a need to nurture these clients by different



CMAe Mag

Each one of us, at some time or the unique achievement from each one of other has felt exasperated at the the more than six billion people. Andmediocrity of the people we come that is where the problem lies. Studiesacross and strongly felt the need of indicate that an average Indiandoing something about it. However, the operates at approximately 30 percentthought that each one is responsible for of his/her potential. Situation in Govthis/her actions and no one should ever

try to become the custodian of others'

thought , emotions and actions etc .in a

free society, always prevented us from

any action of any kind.

We know that this thought itself has

resulted in our personal mediocrity

because the status remains as is where

is. An average healthy new-born comes

to the world with many God Given Gifts

and acquires so much from the world in

departments is so dismal and overall

scene such a depressing specter that

the leaders, managers and intelligentsia

of the nation have abdicated their

responsibility.

Mahatma Gandhi's dream was to see

India with every face without a tear.

Alas, in 62 years we have not been able

to provide the basic needs of at least 35

percent of our citizens. It is shameful

that millions do not have the

which he operates that he becomes a elementary freedom from economic

unique repository of potential. poverty, social deprivation or political

tyranny. According to Amratya Sen., weUnfortunately, the potential remainsare only technically free and not trulylocked up, never gets unleashed andfree. In 'Development as Freedom', heindividuals fail to become champions in

any field of activity. This latent

potential, if not harnessed, gets

stagnant and stinks in a manner a large

tank of water will, if its still water does

not find an out-let.

Change is Slow

Individuals owe their uniqueness to the

billions of brain cells and the

permutation and combination of these

cells is responsible for their unique

emotions and actions. This 'law of

nature' ensures that that there is no

exact psychological duplicate of any onequotes the eighteenth century poet

ever born. Why has the Creator takenWilliam Cowper on freedom, “Freedom

special care to ensure that uniquenesshas a thousand charms to show, That

of individuals is never disturbed? Oneslaves, however contended never

point of view is that because He expectsknow”. A large chunk of India's billion

Col (Retd) D S Cheema

Executive Director,

Fashion Technology Park, Chandigarh




CMAe Mag

Know Self plus faces don't have safe drinking water, sanitation,It is said that what lies behind us and what lies before usbasic health-care support and primary education. Is

are tiny matters as compared to what lies within us.social and economic change possible only with advances

Indeed there is so much within to be discovered that onein science and technology, particularly in IT? A lot has

life is not sufficient time to do that. However, what everchanged and is changing all around us at a fast enoughlittle can be explored from one's inner self is goodpace but the speed of change in our attitude towardsenough to enrich one's own life and that of others.excellence at work place is terribly slow. Our attitudePerhaps, the most difficult question in the world is abouttowards basic tools and catalysts of development like

self, “Who am I?” Wise men of the past have struggled toproductivity, time as a resource, profit, growth ,work-

find an answer to this question. Some of them torturedethos ,innovation and creativity, wasteful management themselves in their own way and others renounced thepractices, professional democracy, national pride, self world to punish themselves in their pursuit to salvationconfidence etc. is ,to say the least, counter-productive.or Moksha. It may not be possible for ordinary mortals toSense of judgment of time and distance of majority of

find a solutionIndians is so disproportionate that minutes and yards do

to this verynot have any meaning in their daily lives.

c o m p l e xLook Withinquestion, butBest motivation for individuals who wish to excel is tow h a t i slook within. There is an outside world and there is anknown is it isinner world and all human beings belong to both theup to us toworlds. Every individual must be what he or she can be.make or marAnd that is possible only if the body and soul are engagedour lives. If wein some constructive action. According to Bhagwat Gita,can use ourwhich is venerated by Hindus as the most sacred of the

potential byscriptures, says,” Do thou thy allotted work, for action is'discovering'better than in-action; even the maintenance of physicalo u r l a t e n tlife cannot be effected without action.”- translated by Dr.talent, developing our strengths further and by takingRadhakrishnan. The action must be performed withcare of our weaknesses, we can do wonders and attainpositive attitude and total devotion to the task beingsuccess as perceived by others. We must precisely defineperformed. Devotion to work is the root cause of our success and try and achieve that. Every one'sprosperity, profit and welfare. Mahabharta has this todefinition of success is different to suit one'ssay of work, 'One who is devoted to his work becomesperceptions. As long as action is constructive and effort isgreat and enjoys unlimited happiness.' Work has alwaysmade to contribute to organization one works for andbeen considered a source of happiness, so much so thatsociety one lives in, one should be satisfied with whatmany have concluded, 'Work is Worship', that ultimateever one is able to achieve. Most of us feel inadequateattainment of the Creator is possible only if oneand guilty, if we do not achieve the standards of successperforms. But the work-ethos must be converted in tofixed by others. This should not be the case.worth-ethos i.e. work without a purpose, without its

Excellence demands its price. It is a matter of positive and substantial contribution to individualcentimeters and inches and not of meters and yards. Thehimself, to the organization he serves and to society atpath to excellence is ridden with so many temptationslarge, is not really working. It should be able to make awhich impede the progress to excel, that most peopledifference in a positive manner.have tendency to give it up on the way. People start on itWork places are often inflicted with negative emotionswith a lot of fanfare and enthusiasm, but keep inventingof workers for each other and these negative forcesexcuses to give up and their passion for excellenceimpede the path of goal achievement. In fact, negativedrools down to occasional spurts of bright spots. Theemotions are the greatest enemy of individuals,whole effort is not focused and perseverance is often theorganizations and the society. The cause of suchvictim, dumping a good-starter back in the hugeemotions is the tendency of individuals andcollection of millions.organizations to compare themselves with otherSince we are a deeply religious and God-fearing peopleindividuals and organizations once it is known that there(why the expression God-fearing, why not God-loving),are no '.duplicate' human beings and there can be nomany scholars plead the use of religious devotion and'duplicate' organizations, why should these be

fervor among the people to get rid of the yoke of compared. Each organization has its own uniquemediocrity which has plagued our nation. The route of resources which makes them totally incomparable withcanalizing one's religious intensity to perfectionothers. Yet, major problems arise out of unreasonable/excellence in work place is not easy and is fraught withcomparisons.dangers. For example, some one may loose faith in one'sSetting reasonable goals and making all out effort tochosen deity if one does not get the rewards oneachieve these can help individuals maintain a balance of expected after performing duty with total devotion.life. It is often seen that people set very high goals forHowever, the connection between one's purely religiousthemselves and if they can't achieve them, they get avalues and sanctity which one brings to the work place isfeeling of helplessness and frustration. There is no doubta matter of serious study. This has been highlightedone must not set a goal which is within one's reachbeautifully by R H Tawney in his classic,” Religion and thewithout a good effort, because a goal which does notrise of capitalism” Perhaps this is one hope and wake upinspire a person to challenge one's limitations does notcall for our teeming millions who have burdenedgive the feeling of satisfaction and happiness of havingthemselves with tonnes of mediocrity.achieved some thing worthwhile.



CMAe Mag

Tourism, both international and attract ing p i lgr ims s ince t imedomestic, brings about an intermingling immemorial.of people from diverse social and The state presents a classic example of cultural backgrounds and also a combination of both negative andconsiderable spatial redistribution of p o s i t i v e i m p a c t s o f t o u r i s mspending power, which has a significant development. More than 12 millionimpact on the economy of the area. domestic and approximately half aEarly study on the impact of tourism million international visitors came toupon destinations focused primarily on the state in 2010 generating a largeeconomic aspects. Yet tourism, by its number of income and employmentvery nature, is attracted to unique and opportunities for the local peoplefragile environments and societies and besides revenue for the stateit became apparent in some cases the government coffers. Himachal Pradesheconomic benefits of tourism may be has a population of 69 lakh and tourismoffset by adverse and previously contributes nearly 8 % of the state,unmeasured environmental and social which is the same as horticulture sector.consequences.Sustainable Tourism W i t h p r o p e r p l a n n i n g a n dIn economics, impact methodology has infrastructure development, the statea long pedigree but the measurement tourism policy proposes to increase it toof environmental and social impacts has 15% by 2020.not progressed anywhere so far. The number of pilgrims and devoteesConcepts such as 'sustainable' tourism who throng its ancient temples anddevelopment and the 'responsible' hallowed shrines such as Kangra,consumption of tourism' are seen as the Jwalamukhi, Chintpurni, Chamunda

answer, along with the enhanced Devi, Manikaran, Paonta Sahib andplanning and management of tourism.

Nestled in the Himalayas, Himachal

Pradesh, blessed with some of the most

spectacular and beautiful landscapes

anywhere, attracts a large number of

both international and domestic visitors

every year. Its people have an

interesting, though chequered history

and a rich and a picturesque heritage.

A fillip to tourism was administered

when British declared Shimla as

summer capital of India in 1864. But the

real boom came in 1990 after theother shrines runs into millions. Spurt in

eruption of terrorism in Jammu and domestic tourism, which is growing atKashmir. However Himachal has been

20 per cent every year has given a

further fillip to tourism development in

Himachal Pradesh.

Besides, the popular destinations of

Shimla , Chai l , Kul lu - Manal i ,

Dharamsala, Palampur and Dalhousie,

some of the backward regions such as

the tribal areas of Kinnaur including the

fabled Sangla valley, Lahaul & Spiti,

Bharmour, Pangi, outer and inner Seraj

valleys, Rohru and Rajgarh are now

attracting more and more visitors every

Paradise in Peril

Prof. N.K. Sharma,

ITFT College, Chandigarh



CMAe Mag

year. These places abound in tourism and recreational, also the need to improve the basic infrastructure of

archaeological rema ins, monaster ies, ethn ici ty, roads and transport to these places as well as to

indigenous crafts, and folk culture. Himachal has attractive sports in the interior of the state.

around 57 helipads of which majority have come up in Despite the fact, that the state government hassnow bound areas providing vast opportunity for heli- accorded a high priority to tourism development, theretaxi service which has recently been started in the state. does not seem to be a coherent plan, whichIt is to be ensured that the fragile ecology of these encompasses activities of all the departments. It shouldunspoiled places does not get degraded. be ensured that the tribal areas of Kinnauar, Lahaul &

Tourism as Economic Activity Spiti and Chamba do not suffer from the pitfalls, which

have caused unlimited damage to the landscape of Tourism in such laggard regions can play a positive role

Shimla and other places. Local residents need also to bein breaking through inertia and economic morbidity. Asinvolved in tourism planning and in the protection of a catalyst, it can go a long way in bringing socio-environment.economic transformation of the society. However,

before making these places accessible to the visitors, Against the background of snowcapped mountains,

care need to be taken to ensure that their centuries' old Mecleodganj, or Upper Dharamasala, is now an

customs and traditions and fairs and festivals are not internationally known place as a great centre for

commercialized, while their architectural ethos remain Tibetans studies and residence of His Holiness Dalai

more or less in fact. Lama is visited by lakhs of domestic visitors and

thousands of foreign tourists. The result is that theTake the example of Shimla, known as the Queen of hillplace is choking with traffic jams and unseemlyStations, which attracts more than 15 lakh domestic andbuildings that have mushroomed in the area. Serenityalmost 50, 000 foreign visitors every year, the maximumand quietness, which were the hallmarks of the place,crowd making a beeline in the last week of December toseem to have vanished. Development has taken place

without taking into consideration the carrying capacity

of the place and its sustainability. Dharamsala is also astarting point for a number of treks to the majestic

Dhauladhar ranges and beyond to Chamba and Lahaul &

Spiti. It also needs to be ensured that the trekking trails

and the halting places enroute these treks remain clean

and are not littered with garbage and junk

For a lavish display of natural scenery, Manali is the

principal show place of the Kullu valley and the starting

point of an ancient trade route, which crosses the

Rohtang Pass. One sees well-defined snow capped

peaks, evergreen pines flanking the sides of shelteredcelebrate X- mas and New Year Eve and to enjoy the ravines and with the river Beas meandering through it.snowfall visit the town.. Rapid and unregulated

development of tourism facilities, has not only brought

environmental degradation, changing the very intrinsiccharacter of the place, but has also brought a number

of other problems such as congestion, parking, water

shortage with enormous strain on infrastructure.

Consequently the local residents suffer. It seems the

town is bursting at its seams, with the famous Mall

presenting a scene of a smiling river in the evening.

People from all parts of India get mingled up

indistinguishably with the mass of humanity drawn

from the adjoining areas. As one approaches the town

near Tara Devi, one gets a very dismal picture of it, which

looks like a concrete jungle. Manali is a place for a perfect holiday and a favourite

place for trekkers. However, unplanned developmentAround Shimla, there are a number of picturesque spots

has grossly marred the landscape. Vandalism andsuch as Kufri, Naldehra, Tattapani, Phagu, Chail and

commercialisation of the land route, congestion andNarkanda, which more often than not present a picturepollution have robbed Manali of its pristine charm.of filth and neglect. Efforts need to be made to disperse

tourist traffic to these satellite destinations. There is To regulate and facilitate tourism development,

Himachal Pradesh need to emulate the example of

Kerala which has already passed the Kerala Tourism

Zones, appropriate advice to the local authorities in

regard to formulation of the projects and taking action

against unauthorized construction and encroachment.

Besides all the stakeholders government, hoteliers,

resort owners, travel agents, tour operators, adventure

outfits, transporters, escorts, local bodies, restaurant

owners and others may feel that it is in their own

interest to maintain the scenic and cultural assets of

Himachal Pradesh, which is rightly called the Dev Bhumi

The Abode of Gods.



CMAe Mag

India was able to neutralize the products and services that you sell

impact of worldwide recession in a are completely worthless unless you

sh or t tim e due to in he re nt target it to right group of people;

characteristics which are backbone considering their age group, income

of the Indian entrepreneurs. I am grou p, ed uc at io na l le ve l and

summing up 25 such important locations.

character ist ics of successful 7. Customer is the king

entrepreneurs which are must for Business is not about the products or

carving a niche in society: prices you charge. It is all about your

1. Possess strong will customers. Business, including your

Every entrepreneur requires strong policies, service and prices must be

will followed by firm resolve to get customer-oriented.

the desired results. The adage 8. Believe in self-promotion

“Where there is a Will there is a Way ” Self-promotion of persons behind

may now carry a preamble “Where the products and services is one of

there is a Wish, there is a Will” the most potent tools for marketing,

2. Decide and do what you enjoy yet most underutilized.

In fact, if you don't enjoy what you 9. Project a positive business

are doing, chances are you won't image

succeed. Enjoyment in your work is a Business owners must go out of their

pre-requisite to success. way and make a conscious effort to

3. Take seriously what you want project the most professional and

to do everlasting image of their business.You must have to be serious in that The more you become known for

what you want to do. You can't your expertise in your business, the

expect to be successful unless you more people will seek your expertise,

truly believe in your business, its creating more selling and referral

goals and services. opportunities.

4. Plan everything before action 10. Know your customers

Business planning is important Most significant competitive edge

because it requires you to analyze the entrepreneur has over the larger

each business situation, research and competitors is the he can offer

compile data and make conclusion. personalized attention.

5. Manage money matters wisely 11. Make use of technology

Th e li fel in e of any bu si ne ss Make sure you are keeping pace with

enterprise is cash flow. Two aspects high-tech world as it suits your

for managing your money wisely: a). needs. Use Internet as frequently as

the money you receive from clients in possible to upgrade your skills.

exchange for your goods and services 12. Build a top-notch business

(Income). b) The money you spend team

on inventory, supplies, wages and No person can build a successful

other items required for business business alone. He requires a

operating (expenses). committed team. Thus teamwork is

6. Ask people to buy what you are vital for any business's success.

selling 14. C r e a t e a c o m p e t i t i v e

M a r k e t i n g , a d v e r t i s i n g o r advantage

pro moti on al ac ti vi ti es of the Stand apart from your competitors

Important Characteristics

of Successful Entrepreneurs

CA. Manmohan Kumar Garg

Chairman cum CEO,

Gurukul Vidyapeeth



CMAe Mag

by providing better service, warranty, flexible 20. Grab attention

payment options etc. Promotional activities are aimed at building

15. Invest in yourself awareness through long-term, repeated exposure.

To become effective entrepreneurs buy and read 21. Master the art of negotiations

business and marketing books, magazines, journals, Mastering the art of negotiation means that your skills

reports etc. These resources will improve your are so finely tuned that you can always orchestrate a

understanding of business. win-win situation in your favor without antagonizing

16. Be accessible your competitors.

You must be accessible and knowledgeable about your 22. Get and stay organizedproducts and services. You must make it as easy as you Small things such as creating a to-do list at the end of

can for people to do business with you. each business day, or for the week, will help keep you

17. Build a rock-solid reputation on top of important tasks to tackle.

A good reputation is one of the business owner's most 23. Take time off

tangible and marketable assets. It can't be purchased Create the schedule to suit your business needs. Of

but it is something that you have to earn by honoring course, your schedule should be flexible. Take time off

your business commitments. for leisure activities with your family and friends.

18. Sell benefits 24. Limit the number of hats you wear

Selling benefits associated with owning and using the The ability to multitask is a common trait shared by

products and services will attract new customers and successful entrepreneurs, but you should know at

retain the old ones. what you are good at and what task to be delegated.

19. Get involved 25. Follow-up constantly

Always go out of your way to get involved in the Constant follow-up enables you to turn prospects intocommunity that supports your business. It is fact that customers, increase the value of each sale and buying

people like to do business with people whom they frequency from existing customers, and build stronger

know. business relationships with suppliers and your core

business team.

Anoop Luthra

CMA Member

The whole history of humanity witness comfort area? To realise their truth

that nobody innate genius. We all potential, to have an impact, to feel

learn things from society. If you start great, to improve the quality of life, to

reading biographies of successful get the things a person wants. So if you

persons then you realise one thing want to become a lot more than you

that greatness only come by stretching are now, in any aspect of your life, then

yourself to the extent. There are lots of you have to work through that

examples in history like Abraham resistance to change.

Lincoln, Thomas Edison and Mahatma Firstly, what is relief sector of people?

Gandhi. We all know their suffering in For instance: people are having samelife. But we cannot ignore this truth network from many years, same

average people are afraid of change. thinking from many years, same type

They don't want to change the things of food they take and same way they

they have been doing. Because people people are doing things. Small things

don't know what know. They want done by people would reflect how the

change in life but they don't want to person will do big things in life? People

leave their relief zone. doing what they have been doing but

They never think that difficulties are expecting different results. Get into

opportunity to find out alternatives of the habit of making little stretches

problem and the truth is if you are not each and every day and keep this thing

stretching yourself regularly, life will in mind by leaving your relief sector,

not improve you. The question arises one can shape his destiny.

why should people need to leave their

Why you need to

leave your relief sector



CMAe Mag

A young, recently married, software remain so th ic k , that many

engineer, well set in a medium multinational organisations may be

leadership role in a high profile put to shame.

multinational organisation, had But, better or best, in God's hands itdeveloped good great products for rests. This software engineer (nameboth Indian and global markets. On withheld) had to host an importantthe domestic front he had become a official delegation, and was assignedfather of a newly born baby boy. the larger role of an inspector of Generally, for a promising guy like this Quality. He tasted the food, and nothe potentials are just right with a sooner than he did, the clumsy thingfuture all bright. intruded into his wind pipe. There

The high profile organisations usually was no injunction further possible.

nurse their officers of this calibre very Alas! The lad had breathed his last as a

well, as they well know that the result of sudden choking. The story

professionals, through great work thus ended on a sorrowful note, while

culture, actually are being enabled to nothing worse than this could have

nurse their organisations to see that happened, except the prescription for

the latter continues to do well. For a future planning and restraint.

simile, the difference between a To consider how we should prepareh o s p i t a l s c e n a r i o a n d t h e before tasting a meal, let's go back to

organisational set up is that the a hypothetical village scene, wherehealthy man goes to hospital when diners sit on floor. Their food is placedone gets s ic k , v i s -a -v is the on a board of short height (call itorganisation needs a nurse (hard dining table). They pray to the God, orworking employee) to see that one may be align themselves for thedoes not land up in red. impending activity. Palm full water is

Rituals of Alignment spilled on earth all around the eating

Anyway, the future of the lad was platter, lest an insect crawls up the

bright. Notwithstanding that there ladder (legs of the board). This

was a career promotion in sight. Thus engineers a perfect spell, lest the food

the spirits were all bullish. After all, gets vitiated. For the food is

the win-win relationship between the conceptually equivalent to the qualitytwo- the organisation and the various of thought. As you think during eating

employees in some organisations (sow), so are the types of results

bought (reap). So while eating one

should have good thoughts. Perhaps

the poor lad in our above story had

pressure of sorts on him; so the food

went to the wind pipe and chocked his

breathing.

Preparing well and hard for any

activity is a real protocol. It is rigour,

well worth the cost (cost of poor

Align your processes

for a right SHEQ-up

Prof Priyavrat Thareja

Head, Met Engg.

PEC Univ. of Technology, Chandigarh



CMAe Mag

Horizontal Alignment: degree of match across twoQuality). The Japanese spend 80 % of the time in

components (e.g the accidents like what happenedplanning and preparing for all eventualities, lest

above) within a single level (e.g., same gradeanyone may misfire. Had the poor soul also taken his

comparisons), andtime to align, he would have been alive.

Vertical Alignment: degree of match within oneSHEQ at workplace

component (e.g., within same activity) acrossAligning the people to Quality is indeed vital. Justmultiple levels (e.g., across grade levels).move without adequate caution and one jerks the

Dan Peak and C. Steve Guynes (2003) report frombody to exhaustion. So says the Newton's first law of

Texas, USA, the positive benefits of alignment inmotion A body in a state of rest or motion continues planning process in the case of IT field. It is claimed to

have improved and facilitated communication on IT

and IT projects throughout the company, from the

executive level to the operational level. As a result it

brought client units closer together.

The alignment exercise was not easy. The planning

process was successfully carried out as a four-year

activity that involved:

(i) A pilot implementation and

(ii) Effective integration is the next step on the

journey, past alignment.to be in the same state, until it is changed by the (iii) I t i s e x t e n d e d t o a c o m p a n y w i d eapplication of an external force. And 'if there is an

implementation of the IT alignment planningaction, it must be accompanied by equal and

process.opposite reaction'- argues the third law. The reaction

It is achieved when the individual components of ais what scares the SHEQ (Safety, Health,

performance management system operate as fullyEnvironmental and Quality in the Workplace). So

interconnected unit.engineer the action with adequately planned fore-

It was designed to be flexible so as to dovetail withthought.

corporate strategic planning processes. It solicits aLet us imagine when the bad news of that lad, who

consistency of plans, processes, information,died with windpipe choke, was brought home- to his

resource decisions, actions, results and analysis towife. Do they give the shocking news of the demise at

support key organization-wide goals. After Successful

once or apply a slow simulation of grief in the implementation, IT alignment planning wasenvironment before the bad news is broken out. They

acknowledgment and approved in all divisions of thebring the condition of the affected person to cool

company.down, so that there is no sudden outflow of blood,

So alignment helps everywhere, right from making alest it goes out of control. In other words, the person

small mistake to committing blunders. Whenis prepared to take on that stress. Alignment is the

indifferent things are comprehended due to badextent to which and how well all inputs impact

alignments, mishaps do happen, as if the subjectstogether to guide and ultimately protect the system

have been hypnotised.from making the SHEQ tremble.

Well! If the managers have been aligned rightly forThe direction in which alignment is examined can be

pursuing planning, the job is well done!broken down into two approaches (Niebling, et. al.,

Amen!2008):



CMAe Mag

S i n c e i n d e p e n d e n c e , v a r i o u s credit and micro-financing. NGOs andg o v e r n m e n t s i n I n d i a h a v e SHGs were encouraged to become theexperimented with a large number of government's arm in extending micro-grant and subsidy based poverty credit to the poor. They were providedalleviation programmes. These supplementary credit needed to fundp r o g r a m m e s w e r e b a s e d o n the credit, paper work was reduced

grant/subsidy and the credit linkage between them and the banks. Also, thewas through commercial banks only. government assisted in mobilizingAs a result, these programmes became f u n d s f r o m f o r m a l f i n a n c i a lunsustainable, perpetuated a institutions to meet the larger creditdependent status on the beneficiaries needs of these organizations.and depended ultimately on the govt.

· Among the poor, the poor womenemployees for delivery. This not only

are the most disadvantaged - theyled to misuse of both credit and

are characterized by lack of subsidy but banks never looked at it as

e d u c a t i o n a n d a c c e s s t oa profitable and commercial activity as

resources, both of which arewell.

required to help them work theirSteps taken in India to promote micro- way out of poverty and for

financing: upward economic and socialmobility.It set up development banks, such as

SIDBI, NABARD which focused on rural · The problem is more acute for

women in countries like India,

despite the fact that women's

l a b o r m a k e s a c r i t i c a l

contribution to the economy.

Why women? Studies have

shown that women use the

profits from their businesses to

send their children to school,

improve their families' living

Ruby Shukla

Sr. Lecturer,

Chandigarh Business School

Microfinancing

Microfinacing relates to financial assistance to house

hold or small entrepreneurs to start their business or to

provide them a platform so that they can put their

venture on a firm footing. The term is new one in the

dictionary of modern economics, but the concept can

be related to ancient times in countries like India, where

the private lenders used to lend money to small

businesses which used to be set up in the villages.

Relating simply, microfinance is the provision of

financial services to low-income clients or lendinggroups including consumers and the self-employed,

who traditionally lack access to banking and related

services.

Need for Micro - Financing

Pankaj Shukla

Asst. Prof. RIMT,

MandiGobindGarh



CMAe Mag

Improvement in Asset Positionconditions and nutrition, and expand their

businesses. The fruits of their businesses not The average increase in assets was about 72%, fromonly make an impact on themselves and their Rs 6,843 to Rs11,793 in real terms (in one to threefamilies, but entire communities. years) in most of the households where micro-

financing has been extended. Before given the· Evidence shows that groups of women arecredit, one in three households had no assets; afterbetter customers than men - they are betterthat, it changed to one in six.managers of resources - benefits of loans are

spread wider among the household if loans are Increase in Savingsrouted through women - mixed groups are

While most households given micro-credits wereoften inappropriate in Indian society - record of having negligible or no savings, this improved to Rs.all-male groups is worse than that of all-women160-Rs. 460 and in some cases, the averagegroups, everywhere.household savings rose to as high as Rs. 1444.

Present Status of Micro - financing in India:Changes in Borrowing Patterns

With 75 million poor households potentiallyWith improvement in above two factors, peoplerequiring financial services, the microfinancewere more ready to borrow from the semi-formalmarket in India is among the largest in the world.and formal sector rather than their traditionalEstimates of household credit demand vary from acreditors i.e. friends and family, moneylenders,

landlords.

Conclusion:

Most criticisms of microfinance have actually beencriticisms of microcredit, delivered in the absence of

other microfinance services such as savings,

remittances, payments and insurance. For example,

there has been much criticism of the high interest

rates charged to borrowers. The real average

portfolio yield cited by the sample of 704

microfinance institutions that voluntarily submitted

reports to the Micro Banking Bulletin in 2006 was

22.3% annually. However, annual rates charged to

clients are higher, as they also include local inflation

and the bad debt expenses of the microfinance

institution.

Microcredit has been blamed for many suicides inminimum of Rs. 2,000 to Rs. 6,000 in rural areas andIndia: aggressive lending by microcredit companiesRs. 9,000 in urban settings. Given that 80 percent of in Andra Pradesh is said to have resulted in over 80poor households are located in rural areas, totaldeaths in 2010. Microfinancing generally hascredit demand ranges between Rs. 255 billion andgenerated positive benefits, despite some lendersRs. 500 billion. However, only Rs.18 billion of thischarging interest rates between 40-60%. For theamount has been generated so far. The reason forsuccess, focus has to be strictly on microcredit,this is that major portion for rural crediting has beenthereby giving citizens in poor countries access tofrom the informal sector and this is at a very highrudimentary and cheap savings accounts. There is nointerest rate, thus reducing the volumes of suchevidence of any negative influence of microcredits, and by far has been for investment purposesfinancing but countless examples of people now(13%) and more for family emergencies (29%) andlooking at the bigger picture and saving for bettersocial expenditures (19%).things have surfaced, which negates the profound

Hurdles in implementation:purpose which lied at the foundation of

microfinance.· High f iscal def icits have meant that

Government is appropriating a large share of

financial savings for itself.

· Convenience and frequency with which such

loans can be accessed

Successes in Micro-financing

The effects of micro-financing trickling down to the

poorest of Indians can already be observed in the

Indian economy.



CMAe Mag

The state of Punjab is blessed with rich generation to other.culture and heritage. Here the people The Punjabi Juttis have been in fashionare very fond of different varieties of constantly. Its demand is on thefood (spicy, roasted) and are quite keen increase, as the younger generation hastowards various kinds of attires, also taken to it. One unique featureaccessories etc. Like many other parts of which has now being associated withthe country, here also, Rajas and Punjabi juttis is that it has become aMaharajas were very fond of dressing ceremonial footwear along with longand delicacies.. Till today, this Achkan and churidaar payjama.. Theinheritance continues. People, even younger generation wears the designernow after centuries, are still continuing juttis that is specifically made to order asthis tradition .Among many things, per their choice of leather, threads,Phulkari embroidery of Punjab is very colour-combinations. Besides designerfamous. juttis ,the traditional sober colour withOne of the less famous but more sober work are also still popular .popular among all other things is Different kinds of leather are being usedPunjabi juttis. It is typical to Punjab. This to make these juttis, mainly being cow,royal footwear was worn by Nawabs of goat, sheep, and camel. The leather of Lucknow and maharajas of Patiala, cow is the softest one being used inbesides the rich families of Punjab and these juttis and camel being thenearby states. These juttis were also hardest. The price of these juttis alsoknown by the name SHAHI JUTTIS. In differs according to leather used .those days, embroidery work on juttis The basic material i.e leather is obtainedused to be with gold thread. However, from Jalandhar, Malerkotla for

now that has been replaced by silk and manufacturing these Punjabi Juttis incotton thread. There are many varieties and around Patiala. The thread, beads,of Punjabi juttis. The ceremonial ones sequins , mirrors and other accessorieswhich are generally designer juttis are obtained from outskirts of Patialahaving sequined work, beaded work and which is actually a hub of these items.work done with gold and silver thread. Incidentally the same thread is beingMIirror work in combination with used in PHULKARI the most populardifferent coloured threads is known as embroidery of Punjab. Other items like

cloth for embroidery , PVC Sole , special

pasting material, mould etc are locally

available.

The price ranges from Rs150 per pair to

Rs3000 per pair and in certain cases

beyond Rs3000 if some special work is

done on order. Normal range is Rs250-Rs400 being used in daily wear by most

of the people belonging to middle class

families.Phulkari juttis. One speciality of Punjabi juttis is that The major area of manufacturing of the entire work is done by hand and these juttis was Patiala (Punjab) and no machine is used.nearby places. Patiala used to be main While talking to one jutti maker (Rajuhub. But now, the manufacturing of jutti Store)in Patiala ,it was told that toPunjabi Juttis has spread to other cities make one single jutti,it requires aboutof Punjab, however,Patiala is still 5-6 hours approximately and above allleading. There are special karigars the whole work done on it is hand(craftsmen) who have been in this job work.However another jutti maker of for many generations. It is a specialized Patiala was of the opinion, that one

job and art is being passed on from one experienced craftsman can make even

Punjabi Juttis ---

The Ethnic Choice

Alakshita Pasricha,

M.Sc(Hons)Chemistry, P.G.D.M



CMAe Mag

upto ten juttis in one day.It was not a surprise to be told government in any form; tax has been imposed; no

that these juttis are being displayed almost all over the incentive for the participation in exhibitions; no

c o u n t r y i n v a r i o u s “promotional council” type body; no patronage from

exhibitions,melas etc.And also departments of handlooms and handicrafts; high level of

that these are being exported competition; lack of skilled and trained workers; people

t o c o u n t r i e s l i k e are shifting to more lucrative occupations.

U.S.A,Canada,Germany,Englan It was heartening to know that the demand for Punjabid. Juttis is on increase.However,more people are not

Talking to some of the jutti coming into this business mainly because there are no

makers of Patiala during visit to promotional activities to popularize it on large scale.their kaar-khanas(factories) Therefore its production is on limited scale with limited

and showrooms/outlets,jutti families who are doing it traditionally for generations.

makers , it was revealed that For the present the demand is on increase and thethey were facing certain traditional makers are still in their place. But as and whenproblems .,Some of the major more lucrative alternatives are available, there is a

problems pointed out by the Punjabi jutti walas were that danger that this art of Punjabi juttis may shrink if not getthey were not receiving any support from the extinct.

Book Review

“International Trade : Text and Cases” (2011) by P. K. Chapter 10 presents a helpful and concise explication of special

Vasudeva, PhD, Excel Books, New Delhi. Pp 512, Price Rs 395. economic zones: an Indian perspective.Chapters 11-14 identify

ISBN 978-81-7446-931-1 the major issues concerning government policy on import,

By J.N. Vohra imports of capital goods both new and second-hand import

The 'international Trade presents detailed information on the under EPCG scheme, imports of raw materials and importation

external trade performance of 153 countries in terms of overall cycle with special reference to foreign exchange markets.

trends in current value, volume, and price: the importance of Chapter 15 exclusively deals with exim policy, foreign trade

trading partner; and the significance of individual commodities policy 2004-09 and 2009-2014 and target plus schemes.

imported and exported. Chapters 16 deals foreign exchange risk with currency issues

Chapters contain data on individual countries, including: import such as exchange rates, transaction exposure, types of bankingand export series data; percentage breakdowns of imports by institutions and FEMA. Chapter 17 discusses various forms of

broad economic categories; percentage breakdown of exports international business and documents associated with export

by industrial origin; the value of import and export trade activities, import transactions, and transportation. It also

analysed by the principal countries or areas and regions of concerns international insurance, including various perils, risk

provenance and destination; and the quantity of value of management, policy types, coverage, claims, and the particular

imports and exports analysed by commodity. challenges of insurance in the international setting.

Tables in Chapters analyse trade in commodities by region and The book strikes a balance between explication of the "what is"

country. Special tables show the contribution a country's and discussion of the "how to." Sufficient foundation in

trading industry has made to its region and to the world, the important theories and concepts enables the reader to adapt to

flow of trade between countries and regions, and the changing conditions in the international trade. At the same

fluctuations of the prices at which goods moved internationally. time, where most topics are concerned, detailed guidance on

Chapter 1 introduces the genre of international trade, application gives users the immediate knowledge needed to

difference betwe en international trade, internatio nal manage international trade and logistics.

marketing and international business. It has deliberated on The strengths of this volume are its in-depth discussion of tradeINCOTERMS and their ramifications. Chapter 2 discusses key issues, the detail provided on documentation, and a focus on

issues and theories of international trade and India's role in conveying information useful in the actual management of

international trade theories. Chapter 3 concerns global international trade transactions. Each chapter is followed by

sourcing with particular reference to international trade review questions and a list of key terms and their location in the

deficits, structural deficits, cyclical deficits and the fiscal text. Comprehensive case studies are appended after each

deficits. Chapter 4 has addressed exclusively on World Trade chapter that makes the reader understand its implications.

Organi sat ion (WTO) esp eci all y imp ediments on the A careful effort by the author to define the book's audience and

implementation of Doha Round and the future prospects of its intended purposes clearly underlies this volume's obvious

WTO. utility for practitioners and students of international trade.

Chapters 5-9 explain India's exports, export finance, export International Trade is a valuable addition to the literature in this

documentation, instruments of payment and physical exports discipline. It will probably be most useful as a textbook in MBA

with special reference to principal risks, and documents types courses on international trade, and as a reference for

involved in terms of payment. practitioners in the field.



CMAe Mag

Just yesterday, while driving through one of postpone definite and purposeful steps tothe Southern sectors of Chandigarh the restore eco-balance with great urgency. TheCity Beautiful, I noticed a group of three signs of the time are all too evident for us tostreet cleaners sitting next to a healthy feign ignorance, same of which are thelooking tree. The weather had turned ozone layer getting depleted, ice cover atrather cold with the blowing of a freezing the polar ice caps melting thereby raisingbreeze intent on chilling human bones, also the level of the oceans, global warmingthose of animals. These three had lit a small giving rise to unpredictable weatherbonfire next to the trunk. I was certain that pattern and closer home, the diminishingwere it to continue for another half an hour, size of glaciers in the Himalayan region. It isthey would burn its bark and damage its said that each year about one thousandcore. Seeing ecological damage in the living species become extinct while an

making, I stopped my car and approached equal number of flora specimens vanish.them determined to warn them of the Can we not read the dials on our consolesconsequences. clearly indicating the new vectors? It is an

I mustered all the politeness that I could and unexplained paradox that we are instead

managed to persuade them to put out the more responsive to the possible effects of fire. I must confess that I was a bit surprised, the holocaust likely due to the use of albeit pleasantly, at their agreeing to my weapons of mass destruction which wesuggestion with such ease. These three possess.stated that they would not have done so Are we then not sitting at Cliff's Edgehad they knew the adverse effects of unwittingly watching our planet turninglighting a fire so close to a full grown tree. As more and more unlivable every five years orI resumed driving, I began to think that if s o ?this was the level of ignorance of people T h e o l o g i a n sresiding in a developed city as is a n d t i m eChandigarh, what could be happening in watchers say

smaller towns and villages where eco- that Doom'sawareness is miniscule, if at all. Day is not far.

As described in the Bible, Adam and Eve Can we make a

who were the c o n s i d e r e d

f i r s t t w o guess that thish o m o - day could besapiens, lived when we diein a garden because we no longer are left withh a v i n g a n sustainable levels of oxygen and thus we

entire range asphyxiate due to our own doings?

of flora and Having made an attempt to portendfauna which poss ib le eco-d isaster , I need tocontributed counterbalance it with air of optimism. I amt o b i o - certain that even today we have the abilityd i v e r s i t y to reverse the situation by taking timelyessential to

steps through use of corrective innovativesustain life. Ever since Man, either by technology for example aerial seeding,default or design, has been carrying out one consumption of sea/maritime foods,or the other form of atmospheric control of foul and harmful gas emissionsdegradation. We have come to a stage and raising of ground water table throughwhere today just a fourth of Planet Earth water harvesting measures. Besides, we canstill possesses some semblance of green minimize the utilization of carbon and fossilcover. Countries periodically meet to talk of fuels by maximizing the use of nuclear, solarprotecting it from further loss, but alas and wind assisted energy generatingpolitical considerations override self- systems.seeking realities. The participating nations Last, but not the least, let us make a clariondisperse with a resolve to meet again and call to Mankind to shift back from its Cliff resume a meaningful dialogue. So this Edge posture, thereby gifting our comingprocess goes on unending. generations with a good chance to restoreToday's scientific advancements and know- to Earth its former eco-equilibrium. We canhow have left mankind with no excuse do it, as still it's not too late.

whatsoever to vacillate, dilly dally or

Brig Ranjit Banerji (Retd)

Corporate Advisor




CMAe Mag

Hundreds Attended 'Shaping Young Minds” Speakers Left the Young ProfessionalSpell Bound

Chandigarh Management Association (CMA) organised today an event building said that nothing is impossible in life if you have the will and'Shaping Young Minds” at Tagore Theatre Sector-18, Chandigarh. This desire. Professional Students need to acquire marketing skills to sell theirevent is an initiative of, N.Delhi. More than 1000 students drawn from talent and potential to the prospective employers. Dr. Geeta Joshi,various institutions of the Tricity attended this event Principal Army Law College,Mohali chaired the session.

Inaugurating the programme Mr.Kamal Singh, Director All India Prof Bibek Debroy said that what he achieved in life was more of anManagement Association (AIMA), the sponsors of the event, said that accident that designed. But he that now his consolidated life timethis is third event in a row. First two programmes were organised in experiences tell that it is better to undertake those jobs or activities,Lucknow and Hydrabad. He said that the event seeks to help young which endears you most rather guided by desires of outside advisers. Hepeople find their career path. He said in this programme young students said that he left many lucrative jobs in India and abroad which did not

of professional institutions are exposed to eminent speakers who address interest him. Dr.P.K.Vasudeva, former professor (international trade)the students with their anecdotal, storytelling and coaching style; laced ICFAI chaired the session.with their personal experiences. The idea ultimately is to deliver a Mr.Anil Sachdev gave a heart rendering motivational speech and narratedcharismatic message to the young minds how Hotel Taj employees save the life of their customers, when terroristDr. Gulshan Sharma, President CMA said that many young people today attacked the hotel, even under the threat of their own life. He said thathave bright minds, which need shaping up on what to expect in a even corporate can build loyalities in their employees with value system.professional career they are always seeking advice from icons. The Dr.Gulshan Sharma, President CMA Chaired this session.programme objectives are to inspire young people aspiring to enter in The institutions, which participated in this event, included Aryan Group of professional domains. Colleges, Army Institute of Law, Chandigarh Group of Colleges, DeshThree speakers who addressed the students were Ms. Sangeeta Talwar: Bhagat Group of Institutes, Gurukul Vidyapeeth, IIPM, ITFT EducationMD & CEO of NDDB Dairy Services, Prof. Bibek Debroy, noted economists Group, RICM and SASIIT, Mohali.and Mr. Anil Sachdev, Founder and CEO of the School of Inspired Learning.All three speakers left the student audience spell bound.

Sangeeta Talwar while narrating her successes and failures in her career

Dr. Gulshan Sharma, President CMA

giving his introductory remarks

Mr. Kamal Singh giving his welcome address.

His address was followed by Curtain Raiser Film



CMAe Mag

Ms. Sangeeta Talwar, presently is Managing

Director of NDDB Dairy Services, a 100%

subsidiary of National Dairy Development

Board. This company has been created to

bring alive the National Dairy Plan; double

milk production in the country while creating

sustainable livelihood in rural India.

Before joining NDDB Dairy Services Ms.

Talwar was President South Asia for the Tata

Tea Group and Executive Director for Tata Tea

Limited, the consolidated entity. She was a

member on the Boards of Tata Tea Limited,

Tata Coffee Limited, Eight O'clock Coffee in

the US and Oriental Hotels (Managing theSouthern Taj Hotels). She continues to be a

member on the Board of Governors of Indian

Institute of Management, Kolkata.

Ms. Talwar started her career with Nestle

India and was instrumental in launching and

engineering the success of Maggi noodles and

the Maggi brand as the business head in India.

She went on to become the first woman

Regional Sales Head, after which she made an

unusual move as Head of Human Resources

for the Company.

Subsequently she headed Marketing for

Nestle India as the Exec Vice President. Ms

Talwar also spent 3 years at the InternationalHQ in Switzerland, as Marketing Advisor to

the Drinks & Coffee, Chocolate &

Confectionery Strategic Business Units. From

Food she then went on to Toys and worked

with Mattel as the CEO for South Asia,

subsequent to which she joined Tata Tea.

Until recently she was perhaps the only

women Executive Director and one of the

senior most women in the Tata Group.

Ms. Talwar has an MBA from IIM Kolkata, is an

Economics Honours graduate from Lady Shri

Ram College Delhi, having completed

schooling from the Convent of Jesus and Mary

school.

Prof Bibek Debroy is a Noted India Economist,

he is a Professor at Centre for Policy Research

New Delhi and also visiting senior research

fellow, Institute for South Asian Studies,

National University of Singapore.

He was educated at Ramakrishna Mission

School, Narendrapur, Presidency College,

Calcutta, and Delhi School of Economics. He is

also a post-graduate in economics from

Cambridge University where he was a

member of Trinity College.

Prof. Debroy has taught at Presidency College,

Calcutta, the Gokhale Institute of Politics and

Economics, Indian Institute of Foreign Tradeand National Council of Applied Economic

Research.

His past positions include the Director of the

Rajiv Gandhi Institute for Contemporary

Studies at Rajiv Gandhi Foundation,

Consultant to the Department of Economic

Affairs of Finance Ministry (Government of

India).

Later he had a stint as Secretary General of

PHD Chamber of Commerce and Industry and

Director of the project LARGE (Legal

Adjustments and Reforms for Globalising the

Economy), set up by the Finance Ministry and

UNDP for examining legal reforms in India.

Between December 2006 and July 2007, he

was the rapporteur for implementation in the

Commission on Legal Empowerment of the

Poor.

Prof. Debroy has authored several books,

papers and popular articles, has been the

Consulting Editor of some of the most

prominent financial newspapers in the

country and is now Contributing Editor with

Indian Express.

H e i s a m e m b e r o f t h e N a t i o n a l

Manufacturing Competitive Council. He is

also a member of the Mont Pelerin Society

Mr Anil Sachdev is the Founder and CEO GrowTalent Company Limited and Founder SOILThe School of Inspired Learning. Anil began hiscareer with Tata Motors in 1975 and joinedEicher in 1978 and worked in HR, operationsand TQM. Grow Talent was created in 2000and by 2006 it became the leader in thestrategic HR consulting industry. In 2008, Aniland the other co-founders of Grow Talentdecided to enter the field of Education bycreating SOIL- the School of InspiredLeadership. This new Business School hasbeen co- created by a consortium of 25leading firms such as Aditya Birla Group, BPCL,

Dr Reddys, Grant Thornton, GSK, HindustanUnilever, Infosys, Johnson and Johnson,Mahindra, Nokia, SRF, Schneider, Symphony,Tata Steel, TVS Motors etc. It has focus on thefive pil lars of inspired leadership:Compassion, Diversity, Ethics, Mindfulnessand Sustainability.

Recognised as a thought leader, leadershipd e v e l o p m e n t a n d O r g a n i z a t i o n a ltransformation, he has done pioneering workwith leading global and local firms on talentmanagement, strategic change andorganizational transformation. He has spokenat national and global conferences all over theworld and has written contributory pieces for

leading publications. He has been adjunctfaculty to many leading business schools toname a few such as Indian School of Business,Kelly School of Business, Indiana University,GMI, Flint Michigan, Antioch University,Seattle and Ohio University, Athens, Ohio.

Mr Sachdev is active in management circlesand has held several public offices such aChairman of National Committee onIndustrial relations and Regional Committeeon Human Resource Development of Confederation Indian Industry. He hasreceived several National Awards such as“The HR professional of the year” etc. Hisbiography appears in “Who's who of the

world” published by Marquis in 1991.

MS. SANGEETA TALWAR

MD, NDDB, Dairy Services

PROF. BIBEK DEBROY

Noted Economist

MR. ANIL SACHDEV

Founder and CEO of School of Inspired Learnin

Profiles of Eminent Speakers Who Enthralled The Young Professionals With Their Anecdotal

and Motivational Speeches



CMAe Mag

Glimpses of “Shaping Young Minds”



CMACMA ChandigarhManagement AssociationChandigarhManagement Association

Estd. 1966

cma emag_ march issue

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