domination - march 2013

D OMINATION

MA

RC

H 2

01

3

NEWSLETTER FROM DEPARTMENT OF MANAGEMENT STUDIES, IIT ROORKEE

VOLUME-IV ISSUE-03

……………………………………………………….

Editorial ……………………………………………………….

02 | Domination, March 2013 Department of Management Studies, IIT Roor-

- Regards

Team DoMination

Dear readers, It is the month of March. With a lot of activities like the Finance, Marketing and Opera-tion summits coupled with ever interesting Cognizance, the campus was bustling with ac-tion and events. The month al-so saw the auspicious festival of Holi. Amidst all the fun and new financial year in the offing, we present another edition of the Domination. This edition features a number of articles from a di-verse range of topics. The cov-er story is on an interesting topic “Good Governance”, written by Nilaya Shankar. It deals with the overview and characteristics of the subject. Another stimulating article is

regarding environment friendli-ness of retail business, au-thored by Rohan Krishnan. It talks about concept of sustain-ability in retail industry. The Fiscal Cliff has al-ready amassed a lot of momen-tum in the financial world. This edition presents an insight into the subject and its implications in form of an article, authored by Abhay Kumar. Apart from these insightful pieces, Domi-nation has never lacked in its creative quotient. We present you a beautiful poem from Kamal Deep. The edition also has new round of quiz for those who love challenges. It is always good to lis-ten to experts. The present edi-tion contains an interview of Prateek Jain, a 2010 batch

alumnus of DoMS. It also con-tains the success story of Mr. Murugavel Janakiraman, founder and CEO of Bha-ratMatrimony.com. We hope their experiences and journeys will prove to be useful to the readers. The month also wit-nessed several summits con-ducted in the department. Amongst them, an overview of Vipanan (the Marketing Sum-mit) and Manthan (the Finance summit) are included in this session. We hope that the pre-sent edition will be to your lik-ing. Your feedback, comments and suggestions are always welcome. Feel free to reach to us in case you have any que-ries. Happy Reading...

Contents Editor

Anurag Agrawal

Team DoMination

Abhay Kumar

Aditi Joshi

Arun George

Jubin Mohapatra

Manav Kaushik

Nilaya Shankar

Pawan Upadhyay

Priyank Singhal

Rohan Krishnan

Ruchi Gupta

Saumya Dani

Saumya Verma

Saurabh Paul

Sharad Srivastava

Shibi Singh

Designing Team

Ritesh Kumar

Sabhariswaran P

Saurabh Patel

DEPARTMENT OF MANAGEMENT STUDIES INDIAN INSTITUTE OF TECHNOLOGY ROORKEE

21

Department of Management Studies, IIT Roorkee ………………………………………………………03 | Domination, March 2013

Roorkee - 247 667, India Tel: +91-1332-285014, 285617 Fax: +91-1332-285565 Email: [email protected]

04

08

11

12

19

25

22

15

18

mailto:[email protected]?subject=Feedback

……………………………………………………….

……………………………………………………….

Department of Management Studies, IIT Roorkee

Cover Story

Perspective | Chlorophyll | Qutopia | DoMS da Evince | Success Story | Regardez I’economie | DoMS Spotlight

04 | Domination, MARCH 2013

In the modern world

Good Governance is a Buzz

word. The words Good Govern-

ance is present ubiquitously,

extending from government to

corporate sector. Major Inter-

national agencies like World

Bank & IMF are progressively

linking their loan aid on the pa-

rameter of Good Governance.

Good Governance is associated

with the enhancement in the

quality of life of the people.

Concept of good governance

states that there is more to

well being of people than en-

suring law and order by the

government. Equity, Security

and healthy environment are

not just means to an end of in-

creased welfare but end with

them. Good Governance has

the following eight attributes

which link it to the citizens.

Accountability: In modern de-

mocracy accountability is the

responsibility of those who rule

to the one from whom they de-

rive authority to rule. There

can be multitude of accounta-

bility viz. political, legal, admin-

istrative or social. These ac-

countabilities differ from one

organization to another.

Transparency: means decision

and its implementation follow

due process of law. It means

that information is readily

available to those who need it.

In India, RTI has been a major

step in achieving transparency.

It has resulted in a flow of in-

formation to those who are

genuinely affected by it. Noted

diplomat Abid Hussain said,

“Right to information can usher

in many benefits, such as

speedy disposal of cases, mini-

mizing manipulative and dilato-

ry tactics of bureaucracy,

putting a check on graft.”

Responsive: The institution and

process try to serve all the

stakeholders.

Equitable and Inclusiveness:

There must be inclusive devel-

opment. All citizens should

Good Governance

……………………………………………………….

……………………………………………………….


Good Governance


have equal chance for develop-

ment.

Effective and Efficient: Institu-

tion must make the best possi-

ble use of resources. The or-

ganization must ensure the sus-

tainable development with due

consideration to environment.

Follow the rule of Law: There

must be an independent judici-

ary to protect the human right,

secure social justice and check

the abuse of power. Thus Legal

framework should be such that

it ensures free, fare and en-

forced impartiality.

Participatory: It is the corner-

stone of Good Governance. It

gives power to the men and

women to have a voice in the

decision making. It lays the

foundation for freedom of ex-

pression, association and orga-

nized civil society.

Consensus Oriented: It aims to

achieve sustainable human de-

velopment by reaching a broad

consensus with the best inter-

est of society in mind. Thus the

best interest of the group

wherever possible is achieved.

The base on which edi-

fice of Good Governance rests

are:

Ethos

Efficiency

Equity

Ethics

The concept of good

governance is not new. Kautilya

in Arthashastra defined Good

Governance as “In the happi-

ness of his subject lies his hap-

piness, in their welfare his wel-

fare, Whatever pleases him he

does not consider as good, but

whatever pleases his subject he

considers as good.” Various

other definitions are also given.

Why Good Governance?

The Human Develop-

ment Report 2002 has identi-

fied few reasons for good gov-

ernance (Democratic Govern-

ance):

People’s Human Right and

fundamental freedom are

respected, allowing them to

live with dignity.

People have a say in deci-

sions that affects their life.

People can hold decisions

for which they are account-

able.

Women and men are equal

partners.

Public and private sphere of

life and decision making.

People are free from the

discrimination based on

race, ethnicity, class, gender

or any other attribute.

Economic and social policies

aim at eradicating poverty

and expanding the choices

people have in their lives.

05 | Domination, March 2013

……………………………………………………….

……………………………………………………….


Good Governance


Governance is a process

of decision making and imple-

mentation, involving several

actors. For example, in urban

area the actors involved are

the government, NGOs, reli-

gious leaders, financial institu-

tions, political parties, media,

multi-national corporations etc.

The following figure provides

the interconnections between

actors involved in urban gov-

ernance.

India is a country of var-

ied faith, religion and diversity.

Therefore India needs varied

models of Good Governance.

Post Independence efforts

have been made by various

governments, however the ide-

als enshrined in the constitu-

tion viz. Justice-Social, eco-

nomic, political remain an un-

realized dream. There is a

widespread chaos due to

gloomy situation prevalent in

the society. Democratic system

of governance with modifica-

tions can provide a solution to

this problem. So, as enshrined

in the constitution, states and

unions have tried to incorpo-

rate good government practic-

es to improve the governance.

In India efforts have been

made post independence to

improve governance. These

include Secretariat Reorganiza-

tion committee (1947) and Go-

palaswamy Ayyangar Com-

mittee on reorganization of

government machinery (1949).

The most comprehensive set of

recommendations was made

by the Administrative Reform

Committee (ARC) set up in Jan-

uary 1966 (we have 2nd ARC).

Based on its recommendations,

several institutions such as

CVC, CBI, Lokayukt were also

created. The Government has

taken various initiatives to

achieve good governance.

People participation in Ad-

ministration: People were

given the opportunity to take

responsibility and participate

in the decision making pro-

cess. Participation is vital to

achieve good governance.

Participation can be direct or

indirect or through non-

governmental organizations.

Thus participation led to har-

monious relations between

citizens and administration

and thus good governance.

Citizens Charter: As per Gov-

ernment of India Recommen-

dations various ministries

and departments have to

abide by the Citizen’s char-

ter. The charter states

measures like simple proce-

dures to address public griev-

ances, independent scrutiny

to ensure proper scrutiny,


……………………………………………………….

……………………………………………………….


Good Governance measures like simple proce-

dures to address public

grievances, independent

scrutiny to ensure proper

scrutiny, emphasis on time

bound delivery etc.

E-Governance: The Govern-

ment has laid emphasis on

using Information and com-

munication technology to

provide efficient, transpar-

ent, fast service to the citi-

zen.

Ever since the concept

of state has emerged, good

governance is conspicuous by

its absence. Alexander Pope

stated “For forms of govern-

ment, let fools contest;

whate’er is best administered is

best.” Thus the government

must demonstrate strong will

power along with determina-

tion to take hard decisions to

undertake reform, obliterate

corruption and criminals, en-

suring ethical standard of quali-

ty governance. Besides, the

government in true sense

should be by the people, for

the people, to the people. The

state shall ensure fair inclusion

of all in the democratic pro-

cess. From citizen side we need

to devise a new vision, a new

framework for governance of

the changing government or-

ganization.


By: Nilaya Shankar [email protected] DoMS, IIT Roorkee(2012-14)


mailto:[email protected]

……………………………………………………….

Perspective ………………………………………………………

One might not usually

associate the word sustainabil-

ity with retail. However in mod-

ern times the two words are no

more an oxymoron. Sustaina-

bility has reached and had a

huge impact on the retail sec-

tor as well. Recently an article

was published regarding Wal-

Mart’s own contribution to the

sustainability cause. The chain

has now started working on the

installation of solar panels atop

most of its outlets around the

United States. The question

thus arises, why does a major

chain like Wal-Mart need to be

so concerned about sustaina-

bility? These days it is not a

choice; it is more of a moral

responsibility to use our re-

sources prudently so that our

future generations also get a

generous portion of the pie.

Sustainability is no busi-

ness as usual for any retailer.

Dedicated employees have to

handle sustainability related

issues. These employees often

have to go outside the bounda-

ries of the organization and

even the sector to learn about

the various issues and solu-

tions. Earlier the issue was

viewed from a point of view of

risk mitigation which has

changed considerably today.

Today such programs are

viewed as a means of innova-

tion and a way to differentiate

one’s self from the competi-

tion. Just as is true in any other

field in retail as well sustaina-

bility is a cause that requires

continuous improvement.

Retail businesses are

such that the major stakehold-

ers are always customers. Thus

in terms of sustainability it is

very important that all the

players practice what they

preach. In modern business

scenarios it is important that all

companies have their policies



Green retail


……………………………………………………….

Green retail

Department of Management Studies, IIT Roorkee 09 | Domination, March 2013


regarding the environment. To-

day customers look for organic

products. Consumers today de-

mand products which show-

case ethical fair trade practices.

Customers today care

about the climate and hence it

is only natural that companies

producing the goods also care

about the climate. Companies

today must ensure that energy

consumption and emission of

greenhouse gases is to a mini-

mal during the production pro-

cess. Today customers even go

a step ahead and expect all the

details to be placed on the

packaging of the products. It is

also expected that all the parts

used in a product are environ-

ment friendly. We see adver-

tisements these days also carry

the label. In such cases it is im-

portant that retailers involve all

participants of the supply chain

in making the product a sus-

tainable one.

Sustainability is not just

limited to the product creation

but has also been extended to

the logistics part. Retailers now

have to think of sustainability

in transport and logistics as

well. Better fleet efficiency and

………………………………………………………

……………………………………………………….

low fuel consumption options

have become a major concern

for retail companies. Goods

travelling across international

borders which have become

very frequent these days have

also become a major reason

for curbing emissions.

It is also important for

organizations these days to be

green in terms of the infra-

structure occupied by them.

Many retail chains use green

buildings which use natural

sources of energy to run plants

where the products are manu-

factured. Natural lighting and

improved energy efficiency

have helped reduce energy

consumption in many organiza-

tions.

It is a known fact that in

the retailing industry packaging

waste is the major cause of en-

vironmental degradation. To-

day we see drives like “Say no

to plastic” which are being tak-

en up in a big way. Retailers are

also doing their part by pro-

moting the use of paper and

cloth bags which could be re-

used by customers. Recycling

and reuse of packaging has also

become essential these days.

Given is the sustainability per-

formance of a few global retail

giants.

Thus in the modern day

retailers are measured on three

important factors;

The product responsibility

which measures the adher-

ence to laws and policies

formulated during the pro-

cess of marketing, develop-

ment, promotion and com-

munications.

The amount of energy that

is consumed during produc-

tion and at all levels of the

supply chain.

Adherence to human rights

and labor laws.

Thus in order for an organiza-

tion to stay competitive in the

modern day business environ-

ment it is imperative that they

pay heed to consumer con-

cerns and thus realize the im-

portance of sustainability in re-

tail.


Green retail


By- Rohan Krishnan [email protected] DoMS, IIT Roorkee (2012-2014)

………………………………………………………


……………………………………………………….

Chlorophyll ………………… …………………Its wise to learn, its GOD like to create



In this everyday abrase, I lost my smallest phrase; Moaning and groaning all the night, but there was nobody to give me a sight; There was nobody to give me a hand, so I just perished like a desert’s sand; I was looking for anybody’s help, but everyone wanted to see my heart realms; Just like an ash blown, they want me to frown; So finally have to gather myself, and let this world to belf; It showed me a silver line in cloud, made my soul begins to ploud; I saw people turn to Roman torch, as if something is horched; Just giving up was not my way, for my tears will make others to pay; This taught me a lesson in my life, to stand always and make others to hipe.

By- Kamal Deep [email protected] DoMS, IIT Roorkee (2012-2014)

World is a hypocrite


……………………………………………………….

Qutopia ………………………………………………………

It’s Exquizite, Kills your Quriosity and adds to your Quizdom. Need we say more? ‘Qutopia’ – A Utopia of the best Biz Quiz Tidbits to wreck your brains! Rush in your answers to [email protected] before 10th April, 2013. The winner will have their names published in the next issue. Also, person getting the highest score in every quarter of the year will get a gift voucher. Answers in the next issue of DoMination.

Section A (1 Point for each correct answer)


1) This Noida based software firm was in the Forbes list thrice in a row in 2012. Its founder

owns 62% of the stake. Identify the firm.

2) What according to the chairman of the US Federal Reserves, is a major threat to the US econ-

omy?

3) A company A (major telecom company) partnered with company B (GPS provider) to provide

internet service to company B. Identify the strategy.

4) ...........................................is a rural distribution project by HUL that targets small villages.

5) Which famous personality is also known as “Guy with the Algorithm”?

6) This group was formed in 2001 by leaders of Kyrgyzstan, China, Russia, Tajikistan, Uzbekistan



mailto:[email protected]

……………………………………………………….

Qutopia ………………………………………………………


Section B (2 Point for each correct answer)


1) Identify the movie characterised by the picture.

2) Identify the brand by the logo given below .

4) Identify the below personality. He was also given Bharat Ratna.

3) Below picture is related to a major event. Identify the event.


……………………………………………………….

Qutopia ………………………………………………………



Section A

1. Balance Scorecard 2. Nepal 3. 360 degree feedback 4. George Bernard Shaw 5. Monte Dei Paschi si Siena 6. Drip Marketing

Section B

1. Seth Godin. The book name is Purple Cow.

2. Opel 3. Angela Markel 4. Temple Run, Keith Shepherd and Na-

talia Luckyanova

Answers for Feb’13 edition

Winner of March Edition

Rajesh Y

DoMS, IIT Roorkee

2012-2014


……………………………………………………….

DoMS-da-Evince Prateek Jain is a 2010 batch pass out of DoMS, IIT Roorkee and has around 2.5 years of expe-rience in Marketing Strategy and Planning. Currently he is working as a Senior Executive at Casio.



……………………………………

Q1: Please let us know about

your journey prior to joining IIT

Roorkee?

Response: Allow me to express

a brief note of thanks for envis-

agement of opportunity to write

to you. Prior to DoMS, I had var-

ied and pleasant moments while

Graduation in Computer Science

and Engineering from Jodhpur

to crashing the opportunity of

joining IIM Calcutta and ending

with a single year job at PT edu-

cation while waiting for my join-

ing at IBM GBS. Trust me, the

best thing apart from the IIM

Calcutta conversion is truly the

experience at IIT Roorkee.

Q2: Please share your experi-

ence about summer internship

at IBM.

Response: Although it’s a far

flung time now, the summer in-

ternship at IBM India Software

Labs – the extreme blue intern-

ship, was quite beautiful and re-

freshing. It allowed a break from

the disciplined life of DoMS,

with variable time to ponder up-

on future paths, I was working

on a project to understand the

business prepositions associated

with it, and was to focus on

coming out with business values

on the implementation of it. In-

ternship is just a platform that

allows time to interact with in-

dustry people and groom our-

selves to meet the market re-

quirements and make ourselves

more saleable.

Q3: What are your roles and

responsibilities at Casio?

Response: I am working with

CASIO India from past 18

months, for first 9-10 months I

worked exhaustively for their

market planning and strategy

division for CES – Consumer and

Education Solutions, and sug-

gested them measures related

to exploration of potential mar-

kets in the education domain.

For the past few months, along

with the above rule, I have been

assigned specialist roles in mar-

keting communication, social

media, product research and

training.

All said and done, I am good for

nothing doodle who is trans-

ferred from one domain to an-

other to keep the work environ-

ment safer for other employees.

Q4: How your experience at

HBS is different from Casio?

Response: Although I would like

to behave reticent on this, HBS-

Human Benefit Services trust

empowered me with a unique

opportunity that ideally one

would look at the end stages of

their careers. Human Benefit

Services Trust, or HBS Trust

works primarily as a Not for

Profit NGO focused upon im-

provement of education and

healthcare facility in the remot-

est areas of Rajasthan from past

30 years. They have been ex-

ploring all possible collabora-


……………………………………………………….

DoMS-da-Evince



………………………………………………………tions and opportunities and

serving a population of over

450,000 people presently. I was

involved with them as an adviso-

ry member, and together we ex-

plored an opportunity to reach

out the philanthropic institu-

tions and have them aware

about the things HBS has been

doing since its inception. The

work attracts you significantly,

provides you enormous satisfac-

tion and gives the life a new di-

mension to think about.

Life at CASIO is fairly easy as

compared to being at HBS,

where you feel you have lesser

responsibilities and lesser things

to do, with lesser human in-

volvement. HBS hails to be a

nonprofit service institution, as

against CASIO which is a product

based company, both provide

their own accolades and limita-

tions, but I have thoroughly en-

joyed both the responsibilities.

Q5: What changes you see in

the customer purchase behav-

ior, particularly in current finan-

cial situation?

Response: I am not a financial

expert anyways, but I don’t be-

lieve purchasing behavior has

changed drastically, particularly

in India. As I foresee, sales

trends may have seen some

slowdown, but they are not

showing any downward trends.

Growth may have slowed down,

but still there is a huge oppor-

tunity for exploration.

Regarding customer/consumer

awareness, they are more edu-

cated than before so competi-

tion has become tougher for the

marketers; and unlike the previ-

ous times, marketing of prod-

ucts has gained its own im-

portance.

Q6: Recently there has been a

lot of talk about analytics. How

do you see the future of ana-

lytics, especially in marketing?

Response: Although, Analytics

has always been perplexed to

data, its importance has in-

creased many folds. Analytics is

never going to shed its im-

portance, and its role is going to

increase as we progress, in holis-

tic marketing the Analytics part

helps in the most critical compo-

nent of services, the Customers,

and without analytics as a tool,

it would be very difficult to exe-

cute a CRM, the buzz word of

future. Analytics in short, helps a

marketing team to focus upon

the minute details of customers

and reach out to them in an effi-

cient manner.

Q7: How do you see the future

of online marketing in India?

Response: There is supposedly a

very bright future waiting, alt-

hough we have very few reliable

online selling sites adhering to

delivery commitments. As far as

online marketing is concerned, it

makes sense to ensemble the

coveted options and the bright-

est one is the online medium,

typically the social media. Alt-

hough in its nascent stage, India

is one of the biggest and learned

markets for online marketing.

Q8: What has been the most

challenging role in your career

so far? Would you like to share

any interesting incident with

us?

Response: Nothing has been

more challenging than to move

out of MBA and becoming a part

of the corporate life, careen a

fender of misnomers.

Each and every incident of my

life has been interesting and joy-

ful, but nothing more cherished

than those 2 years of tax holi-

days at IIT Roorkee. It gave me


……………………………………………………….

DoMS-da-Evince



………………………………………………………days at IIT Roorkee. It gave me

all the feelings together, the

bonding, the hatred, the love,

the affection, the jealousy and

all the adjectives related to hu-

man behavior.

Q9: Any message read-

ers, especially for the current

batch of DoMS?

Response: Enjoy your life and

have fun while being at DoMS,

probably the years you spend

here would be the finest years

of your life.

The greatest results in life are usually attained

by simple means and the exercise of ordinary

qualities. These may for the most part be

summed in these two: common-sense

and perseverance. Owen Feltham


http://www.inspirational-quotes.info/perseverance.html

Success Story ……………………………………

……………………………………………………….

It is often said that mar-

riages are made in heaven. But

some have actually tried to

make it on Earth. One such per-

son is Mr. Murugavel Jana-

kiraman who started Bha-

ratMatrimony.com, now num-

ber one site in online matrimo-

ny.

Mr. Murugavel belongs

to a modest background. After

his post graduation from

Madras University, he started

working as a computer pro-

grammer in USA. In April 1997,

he started a community portal.

Later Mr. Murugavel was

attracted to the idea of online

matrimony and started Bha-

ratMatrimony.com in 2000.

Currently it has emerged as

premier matrimonial website

according to Juxt Consult.

BharatMatrimony start-

ed with a member base of 4000

and now boasts of more than

7.5 million users worldwide.

The website also hosts a total

of 15 regional language portals

catering to a diverse range of

people. The success of the ven-

ture is strengthened by over

700 thousands successful mar-

riages that have been set up by

them.

BharatMatrimony’s

efforts and success have not

gone unnoticed. It has estab-

lished its place in Limca Book of

Records on number of marriag-

es performed. It has also been

acknowledged as the Best Mat-

rimony website in 2007 by PC

World for its technology and

performance. Mr. Murugavel

too is the recipient of a number

of awards and recognitions. He

has been honoured as one of

top 5 Asian Indian businessmen

in USA by the Asian Indian

Chamber of Commerce. India

Today also facilitated him as

the “Business Icon of the Year”.

The growth of the com-

pany has driven the expansion

into other areas. It has consid-

erable presence in other verti-

cals such as real estate

(IndiaProperty.com) and classi-

fieds (IndiaList.com). The com-

pany has also fulfilled its social

responsibilities from saving

lives to environmental protec-

tion. It has taken several initia-

tives BharatBloodBank.com,

BharatEyeBank.com and Bha-

ratGreenHands.com to contrib-

ute towards society and na-

ture.

Mr. Murugavel is cur-

rently the CEO of the Bha-

ratMatrimony. He is happily

married to Deepa and blessed

with a son, Arjun. He likes to

travel, play tennis, listen to mu-

sic and spend time with his

family.



Mr. Murugavel is the founder of BharatMatri-mony.com, the leading online matrimony website. Currently he is serving as chief exec-utive officer.


……………………………………………………….

Regardez I’economie ……………………………………………………….

On 1st Jan 2013, the US

House of representative passed

the controversial “The Ameri-

can Tax Relief ACT 2012”, com-

monly known as Fiscal Cliff Bill.

Fiscal cliff is a situation in which

the country’s fiscal situation

has reached at condition from

where they have to take radical

measures to bring the economy

back to normality at least for

the time being. Currently USA

is facing a tough time on this

front and has already raised

the debt ceiling once. In order

to achieve equilibrium, it was

required to reduce expenditure

as well as increase the revenue.

The new bill would allow gov-

ernment to cut spending and

also increase the tax burden on

the American citizen. It is esti-

mated that 75% of the citizens

will have to pay more taxes.

Let's see why a demo-

cratically elected government

had to take such a drastic step.

To understand this, we need to

know two basic terms which

are Annual/Fiscal deficit and

National Debt. The fiscal deficit

is the difference between the

government income and gov-

ernment expenditure. If the

expenditure is more than the

income then the government

has to borrow money to fulfill

its obligation and it is called

debt or national debt. This debt

can be either internal or exter-

nal. Internal debt is taken from

a financial institution within the

country whereas external debt

is borrowed from other coun-

tries. Like a company the debt

is a liability for any nation and

it has to pay the debt on time

for its sustainability. Debt to

GDP ratio is the best way to

measure the country debt re-

payment condition.

In case of US, the debt

to GDP has crossed 100% in

2012, meaning total liabilities

surpassing national production.

This has happened only for the

second time in a century. Previ-



Fiscal Cliff


……………………………………………………….

State of Indian Economy ………………………………………………………ously, it was just after the Se-

cond World War and it took 20

years to restore the debt to

GDP ratio to normal position.

Even during great recession in

the 1930’s the ratio was near

to 30% only. Today an increas-

ing debt is a problem the

haunts almost every developed

nation. Japan has the highest

debt to GDP ratio of over 200%

and the next is Greece which is

already facing an economic cri-

sis.

To reduce the debt to

GDP ratio government has two

major options, first is to in-

crease the GDP growth rate

and the second is to reduce

spending as well increase gov-

ernment earning by increasing

the tax rate. The former is defi-

nitely a better solution, long

lasting and a final solution. The

second solution is only good for

short duration and has some

shortcomings, some of them


are mentioned below:

By increasing taxes gov-

ernment is actually lowering

the purchasing capacity of the

people which translates to less-

er buying power and low level

of demand. This will directly

affect the GDP of the country in

a negative way. The productivi-

ty of people will decrease

which would affect the produc-

tivity of the nation as a whole.

High tax level would also dete-

riorate the market with what

we call deadweight losses. The

unemployment rate will also

increase.

Finally, the thing which

cannot be measured by eco-

nomics is the happiness quo-

tient; the common citizen is al-

ready battling inflation, unem-

ployment and layoffs. The addi-

tional burden of taxes would

only amplify their troubles.

Many developed coun-

tries like Japan, Germany and

Italy have very high debt to

GDP ratio and have still not tak-

en the drastic step as is done

by the United States. Though

some radical measures are

definitely needed, this should

be taken in the right direction

to increase the GDP, productiv-

ity, employment and boost the

confidence of people. If Japan,

the world 3rd largest economy

and Germany the 4th largest



……………………………………………………….

State of Indian Economy ………………………………………………………

economy can afford high debt

then the US can as well. US is

fundamentally a very strong

economy and its GDP is show-

ing signs of recovery, from a

negative growth rate in 2009,

to a positive figure of 2% in

2012 which is a very optimistic

sign.

Let’s see the condition

of developing countries partic-

ularly India in this situation.

Currently India has debt to GDP

ratio of 68% which is highest

among BRIC countries. Histori-

cally in the fiscal front we have

always been on the deficit side.

In 2012 our fiscal deficit was

5.1% of GDP. The government

has taken some steps to con-

trol the fiscal deficit; one of

them is through disinvestment.

In 2012-13, government has set

targets of Rs 30,000 Crore reve-

nue through disinvestment.

However, this is a one

time strategy only. Public sec-

tor companies are limited in

number and by disinvestment;

fiscal deficit can be reduced on-

ly for a few years. A more via-

ble approach is to reduce subsi-

dy and currently the Indian

government is working with

this mindset.

The economic crisis in

USA has other implications as

well. Due to high unemploy-

ment, rising cost of living and

less purchasing power the peo-

ple are getting disenchanted

and it may result in several so-

cioeconomic problems. Anti-

capitalist movements such as

Occupy Wall Street have al-

ready started and have gotten

considerable support. And

above all, the position of USA

as a world power is taking a hit.

It is high time that USA learns

some socialistic measures even

for the tactical purposes to get

out of this mess.



By- Abhay Kumar [email protected] DoMS, IIT Roorkee (2012-2014)


……………………………………………………….

DoMS Spotlight ……………………………………………………….

These days we see a plethora

of new laws that have been in-

troduced into the banking sec-

tor. Do these laws and policies

actually serve as an enabler for

growth? How should investors

behave during a financial crisis?

To build a clearer perspective

regarding some of these topics

Vitharth, The Finance Club of

DOMS IIT, Roorkee organized

Manthan 2013 on the 24th of

February. The Event was

graced by the presence of

some eminent speakers from

the industry, the esteemed fac-

ulty of the department and the

students.

The event started with

the traditional lighting of the

lamp and the welcome note

given by the head of depart-

ment Dr. Santosh Rangnekar.

This was followed by an intro-

duction regarding the theme of

the event by Dr. A.K. Sharma.

He stressed on the fact that

during these troubled econom-

ic times how the banking sector

had to balance the lending as-

pect at the precise rates to the

common people as well as pro-

vide financial assistance to the

industries. He also stated that

the three main goals of this

sector were priority lending,

rural banking and Financial in-

clusion.

The next speaker to take

the Dias was Mr. Paresh Seth,

CEO at Indus Advantage iBank.

Mr. Seth stated right from the

outset that he promoted a free

market economy. He felt that

the idea of introducing new

players into the sector was not

very prudent as it to incur addi-

tional uninvited costs. Whatev-

er changes were to be imple-

mented could have been done

with the existing players in the

sector at a fraction of the cost.

He also stated that even

though new players would give



MANTHAN-2013


……………………………………………………….

Manthan’13 ………………………………………………………and development sector. Ac-

cording to him there was a

huge requirement for business

analysts if a bank was to devel-

op itself from scratch. He also

threw light on some of the new

banking laws which now state

that the voting rights have

gone up to 26%. He said this

would particularly be a boon

for mergers and acquisitions.

The next speaker was

Mr. Jagannandham T. who right

from the outset was as dynam-

ic and enthusiastic as one could

be. He is the current Head of

Research at SMC Global Securi-

ties. He dove right into the im-

portance of macro economy.

He started with the term

‘Chimerica’ and explained how

world dominance has shifted

from the U.S. to China. He add-

ed that these days America was

only known for its Military

Power and how it had in-

creased its Debt limit over the

past few years.

He also spoke briefly

about the state of Euro and its

future in the world economy.

He went on to state that even

though the Euro and the Euro-

pean Union are experiencing

troubled times currently we

cannot deny the importance of

this currency in the world econ-

omy today. He explained how

28% of the FOREX Reserves in

the Central Bank are Euro De-

nominations. He further went

on to explain the role that

some of the major players like

China and Japan are playing or

not playing in the world econo-

my these days. He aptly con-

cluded a very insightful interac-

tion by saying “In good times

bad MBA’s are created while in

bad times good MBA’s are cre-

ated”.

The stage was then

graced by the presence of Mr.

Vipul Jain, Vice President at

Max New York Life Insurance.

He started by explaining that

the customer today is much

more knowledgeable these

days. He stated that as manag-

ers in the industry to be suc-

cessful it is imperative that we

understand the Ecosystem of

the customer. He also stressed

on the importance to start at

the lowest level in order for us

to better understand the subtle

nuances of the industry. He

spoke about the 24 Degree to

48 Degree theory stating that if

you don’t sell in 48 degree heat

you can’t make decisions in a

24 degree air conditioned

office.

The Final speaker of the

day was Mr. Jitendra Solanki,

Founder at JS Financial Advi-

sors. He spoke about the im-

portance of personal finance

and how the indifference to-

wards personal finance on path

of common people in our coun-




……………………………………………………….

Manthan’13



………………………………………………………path of common people in our

country has become a cause for

concern. He further stated that

during a financial crisis it is im-

portant to understand that the

risk tolerance of a customer

changes rapidly. It is important

to understand why an individual

behaves in this manner, where

he is today and where he aspires

to be tomorrow.

Finally a Panel Discussion

was held in accordance to the

theme – Investor Behavior dur-

ing a Financial Crisis. The Panel-

ists touched upon topics like the

ongoing recession in India, Lack

of penetration of Demat Ac-

counts in India. All the panelists

concurred to the fact that finan-

cial independence was the key

to being a successful investor as

it allows an investor greater

freedom to take risks and hence

get higher returns. An example

quoted was the takeover of

united spirits by Diageo and how

intra-day trading on this deal

helped many Indians make mil-

lions in a day.

The event was concluded

by the Note of thanks given by

Kaushik Dutta a first year MBA

Student from the department.

All in all it was an excep-

tional knowledge gaining experi-

ence for all the students. It defi-

nitely went a long way in ena-

bling the students correlate the

theoretical knowledge gained in

the classroom to the real world

experience.


……………………………………………………….

DoMS Spotlight ……………………………………………………….

Sustainability is consid-

ered as meeting the needs of

the present without compro-

mising the ability of future gen-

erations to meet their own

needs. Why is sustainability so

crucial? Are we on the right

track and will our future gener-

ations be able to meet their

needs? How is it impacting the

marketing perspective of busi-

ness? To get answers to such

questions MarkIIT, the mar-

keting club of Department of

Management Studies, IIT Roor-

kee and Indian Society for

Training and Development

(Dehradun Chapter) organized

Vipanan on 23rd February in

association with Investcare and

media partner The Pioneer.

Eminent speakers from

the industry Sanjeev Johar, J

Chandra Mohan, Rohit Kumar

and Gaurav Mittal shared their

experiences with the faculty

and students on the topic

“Three structures of sustaina-

bility: Technology, Green Man-

agement, Social Responsibility

and its impact on The Mar-

keting Perspective of Business

and Organization”.

The summit started with

the traditional lighting of the

lamp and the welcome address

by the head of department Dr.

Santosh Rangnekar. This was

followed by the brief introduc-

tion of the topic by Dr. Jogen-

dra Nayak. The speakers were

then called on the podium to

share their views on the topic.

Mr. Sanjeev Johar -

CMD, Alere Medical India

spoke on “Medical Devices

(Current and Future Trends)”.

He first shared his diversified

experience of the various in-

dustries he had worked in rang-

ing from FMCG to healthcare.



VIPANAN-2013


……………………………………………………….

Vipanan’13 ………………………………………………………not pieces of Gold and Silver”.

He spoke of the various en-

hancements being done in the

healthcare industry like minia-

turization of medical devices,

portability enabling devices to

reach patient, ease of use of

devices, smart sensor nano-

technology, robotics and con-

nectivity between the devices.

He told us about Alere’s Triage

System which enables the doc-

tors to take rapid cardiac deci-

sions at the point of care. He

also shared his views on Nano-

particles, Bionics and Regener-

ative medicines which are the

future of healthcare sector.

Maestros Mediline Sys-

tems Ltd. Vice-President Mr. J.

Chandra Mohan defined

“Sustainability” as an inclusive

growth of society which is re-

quired with a focus on societal

development so as to achieve a

win-win situation. There is a

huge gap between care givers

and care receivers and there is

a need to bridge the gap. He

threw light on the fact of India

becoming a Cardio diabetic

capital of globe because 50% of

deaths occur even before the

patient reaches the hospital

and thus there is a need for

early diagnostics. He explained

the concept of Telemedicine by

which complex data from med-

ical devices can be transmitted

through cloud to the right con-

sultant who can then advise for

an appropriate action to be

taken for the patient remotely.

This concept can be really ben-

eficial as it saves time and ex-

penses, reduces chance of con-

tacting infectious diseases and

leads to better utilization of

healthcare resources.

The next speaker to

share his insights was Mr. Rohit

Kumar - Production Manager,

GoodYear. Mr. Rohit, an alum-

nus of DoMS, IIT Roorkee,

spoke on “Marketing Organiza-

tion – Technology & Sustaina-

bility”. According to him, Sus-

tainability is meeting the needs

of consumers while preserving

the ability of future genera-

tions to meet their needs. He

shared his insights on how he

has used the concept of sus-

tainability in his professional

life in production of the fuel

efficient Bajaj Platina motorcy-

cle and GoodYear Assurance

Fuelmax tyres which save 160

litres of fuel. Thus, by increas-

ing the efficiency of manufac-

turing processes, reducing

waste and making a product

which is eco-friendly or saves

natural resources consumption

we can contribute to sustaina-

bility. He also threw light on

social criticism of marketing

adopted in the form of high

prices, deceptive practices and




……………………………………………………….

Vipanan’13



………………………………………………………and high pressure selling.

Last but not the least was

Mr. Gaurav Mittal - Marketing

Head, Meritnation who also

shared his views on the topic

and motivated students to be

competitive and aim high so as

to become market leaders. He

also advised that one should do

the things one loves to.

Finally a panel discussion

was held between all the speak-

ers on the topic. The panel was

also graced by the presence of

Mr. Mriganka Bhowmick, Loca-

tion Head, Investcare who said

that sustainable developments

always guide to develop the

basic model of predictable busi-

ness and revenue model as it

has minimum exposure towards

regulatory risk. “How much

money is sufficient for me? Once

organizations will find the an-

swer to this question then the

issue of sustainability will van-

ish” - said by Mr. Rohit. In views

of Mr. Gaurav, its society which

decides what is right or wrong. If

society demands for eco-friendly

products then organizations fo-

cus on it, CSR activities are all

about market competitiveness.

The panelists also discussed on

Green sustainability and the fu-

ture of online businesses.

Then the summit was

concluded with the Vote of

thanks and presenting of me-

mentos to all the guest speakers

for taking out valuable time

from their busy schedules and

making the summit a great suc-

cess. Surely it was an exception-

al knowledge gaining experience

for all the students.



Roorkee - 247667, INDIA

Comment/Feedback Mail to : - [email protected]

Contacts: Anurag Agrawal (+917579072360), Sharad Srivastava (+919627419049)

Follow us :-

Blog Page- http://domsiitroorkee.blogspot.com/

Twitter Page- http://twitter.com/#!/doms_iitroorkee

Facebook Page- https://www.facebook.com/pages/DoMS-IIT-Roorkee/156383884413349

mailto:[email protected]?subject=Feedback

http://domsiitroorkee.blogspot.com/

http://twitter.com/#!/doms_iitroorkee

https://www.facebook.com/pages/DoMS-IIT-Roorkee/156383884413349

domination - march 2013

Documents