Mr. Sachin Gaur

Co-founder,

MixOrg.

1.Social Media is the buzz word, any industry which faces customer facing arm its

there on social media but they are just there, they don’t interact with customers.

How do you think firms could leverage Social media to engage with customers? A.Social media is a place where people come and share. There is an opportunity for brands to know their clients in the most natural fashion. From a simple email ad-dress to character map of a person can be sketched when one sees an individual’s social page. For example, a person in a small town prefers to go to a shop where the

shop personnel knows them personally well because of the time spent with them.

A 10th class student of public school in Delhi is struggling to under-stand the math equation which seems to have become more difficult due to hot sticky weather. The power cut since past two hours has made the situation even worse. A daily commuter of DELHI METRO is not assured whether he would reach office on time. A number of daily commuters like him are busy calling their respected bosses for leave or to work in second half because they are stuck in the metro in midst of continuous announcement “There would be a short delay in this journey” which forces them to lose their patience. A heart patient traveling from a small city of BIHAR for his appointment with the doctor in Delhi has been waiting for resumption of rail traffic so that he can meet the doctor. A supplier of garments is under pressure be-cause his assignment is not complete due to power cut and he has to deliver it by early morning next day. The shopkeeper of a photocopy shop asks for extra money from me because gen- set is being used as there is no electricity and no hope for it for the whole day. To add to all this the companies already struggling and working on cost cutting declare close down, and small industries stumbling for a sustainable growth also face the same because of power failure. There is no hope of immediate solution for all these problems as there is no electricity due to the GRID FAILURE. Who is responsible for this?

Not much attention has been paid to the administra-

tive capabilities and managerial prowess displayed by

Akbar as most of the historians seem to be more oc-

cupied with his military prowess rather than his

managerial acumen. His policy of land reforms,

mansabdari system, and alliance with the Rajputs

reflect his intelligence in matters of strategic decision

making. A close analysis of the life of Akbar and his

ideologies unveils amazing similarities between

Fayol’s principles and Akbar’s implementations .

IN THIS ISSUE:

BLACK DAY FOR INDIAN ECONOMY ………………..1

EMPEROR AKBAR IN THE LIGHT OF ‘FAYOLISM’.……….1

CORPORATE SPEAK …….…………….………...1

Volume 1 , Issue 13 | September 2012

Masters of International Business , Centre for management Studies ,

JAMIA MILLIA ISLAMIA

CORPORATE SPEAK EMPEROR AKBAR IN THE LIGHT OF ‘FAYOLISM’

Cont….on Page 4

Cont….on Page 2 Cont….on Page 3

PILL FOR FASTER GROWTH.. ……………………...2

BLACK DAY FOR INDIAN ECONOMY

QUOTE FOR THE MONTH . ……………………….4

In the following paragraphs is an effort to draw comparisons be-tween Fayol’s principles of management and practices followed by Akbar. 1) Specialisation of labour - The first principle of Fayol deals with specialization of labor in order to run business more smoothly. Akbar too did the same. He appointed his band of “Navratna” or the nine jewels basis their competency and speciali-sation in their field of work. 2) Authority – Unlike other Muslim rulers who used to consider the Khalifa as the supreme leader, Akbar never considered himself to be subordinate to anyone. Akbar adopted the title of farr-i-izdi (divine effulgence or light of God). Akbar left no stone unturned in making it clear that he is at the helm and by no mean one can challenge his authority. 3) Discipline – Akbar he paid due importance to molding the Mughal empire and create legitimacy for his rule which was not based on brute force, but on the consent of the one that were being governed. Even members of the royal family were made to follow the disciplines of the royal authority and avoid misuse of authority. 4) Unity of Command – Just as Fayol had devised, Akbar seemed to have used the similar pattern of unitary command chain to establish his com-mand and control over his territory and subjects. Delegation of authority was minimal with strong central control. A distinct chain of command and hierar-chy was established till the ground level thus ensuring that a system was in place with regards to command and control with the Emperor at the helm of affairs. 5) Unity of direction – Under Akbar’s leadership, the Mughal Empire became the largest one with a sense of direc-tion and purpose. The states were encouraged to be in sync with the centre, especially in the cases pertaining with land reforms and war. 6) Subordination of individual interests – During his reign none of the minister’s were allowed to pursue their individual interests in the court and were held individually and collectively responsi-ble towards the interest of the state and its subjects with the Emperor at the helm of affairs. 7) Remuneration - The mansabdari tradition worked very well as it empowered the local governor of sound remuneration and gov-ernor was obliged to pay certain amount of taxes to the centre. This policy made the empire rich by no smaller mean and India was known for its crowning glory.

In yet another instance of India Inc occupying a larger seat in the global league tables, three out of the top 10 fastest-growing generic companies globally are now from India . Besides being an indication of the acceptance of domestic pharmaceutical companies and their growing clout, this is also a stamp of their command on manufacturing processes, innovation and marketing muscle at a global scale. On the list is Glenmark Pharmaceuticals which, with a growth of 37%, is the fifth fastest-growing generic company globally, followed by Dr Reddy's which grew 34% in FY 2011-12 , according to global pharmaceutical research firm, Evaluate-Pharma . The third domestic com-pany on the list, Sun Pharma witnessed a growth of 29%, occupying the eighth rank.The club of the fastest growing generic companies in the world is dominated by US companies , led by US-based Sagent Pharma, which witnessed a huge growth of 106% during the period, according to the analysts.

Source : The Economic Times , August 30,2012

8) Centralization – During his reign command and control of admini-stration was centralized and the Emperor held supreme and ultimate powers of decision making. The verdict of the emperor was deemed final and binding to one and all. Akbar made the centralized decision-making and it was quite common in his court that the matter pertaining to inter-state disputes were resolved by him only. 9) Chain of superiors (line of authority) – During his reign, Akbar created a chain of hierarchy with himself at the top. This created a line of authority which allowed the flow of administration in a smooth fash-ion without the Emperor being involved at the micro management level. 10) Order - The whole system of mansabdari tradition made an order which was kept under surveillance by Akbar himself and looked after by his cabinet on day-to-day basis. 11) Equity – Unlike his predecessors, Akbar promoted equality of his subjects in all spheres of life. Akbar never discriminated between Mus-lims and Hindus and conferred nobility to many, with equal justice in mind. 12) Stability of personnel tenure - Akbar tried to build relations on

personal fronts. His attempts in winning the confidence of Rajput community yield him great dividends and he assured them continuous em-ployment in his court. 13) Initiative - Akbar dynasty was full of new experiments be it on the religious front or on the political fronts. Akbar was a keen observer in learning the politics and he was the first Mughal emperor to initiate dialogues between Hindu and Muslim kingdoms. 14) Esprit de corps (team spirit) – Akbar took lot of steps to inculcate a sense of oneness among his subjects and ensure the prevalence of a team spirit amongst all his subjects across different religions. Ironically, the majority of the subjects of the Mughal Empire were Hindus and the majority of the ruling nobility were Mus-lims. In this highly polarized society Akbar tried

to foster a sense of tolerance for all religions. He abolished the pilgrim tax in the eighth year and the jizya in the ninth year of his reign, and inaugurated a policy of universal toleration. He also enjoyed a good relationship with the Catholic Church, who routinely sent Jesuit priests to debate. To conclude it can be said that thrown into the vicious world of politics as a kid with dyslexia without the healing touch of a father, Akbar did measure up his competencies well in order to prove himself to be not only a great and able administrator but an equally able manager with vision and strategic thinking and decision making. By– Sanjay Bhattacharya

MAHRM Alumni , JMI.

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EMPEROR AKBAR IN THE LIGHT OF ‘FAYOLISM’

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PILL FOR FASTER GROWTH.

This is contrasting to big retail stores where the sales person has a forced smile and ready to help the buyer. There is a scope for powerful CRM in social media which could be leveraged upon. The basic mantra for social media is not to sell but to learn about its customer first which helps it to stand out from other media. For example, there is a Toy company who asked people to design toys for them and depending on the number of likes for these customer designed toys they manufactured those toys. The idea remains similar all throughout which is to learn about the customer and make offers which are customized. 2.With price no longer a differentiator or rather its significance diminishing by the day, how can organizations leverage Social Media to drive Loyalty among consumers? A. What makes social media differ from other media is the personal touch. For example, an individual prefers going to a restaurant where he or she knows the waiter and the place personally. Even the waiter knows the person so well that as soon as he or she arrives they know the order already. This personal touch does the ego massaging for the customer. Hence the brand loyalty is build when one gets a special treatment which could be leveraged by social media as it gives an opportunity to know the customer well. 3.Evolution of the Web has resulted in the deluge of user-generated content (UGC) — A glut of unguarded personal information offered up by users of Facebook, Twitter, YouTube? How do you think are you helping your customers tap into this information to drive more personalized experi-ence for their customer? A. The personalized experience becomes the most important factor in social media. The advertise-ments reflected on pages of different people are different because in the online mode pages are not made of brick and mortar. When one is known personally, the deals pertaining to the interests of that person is reflected on the respective page, this could be based on the user generated content which the person has already fed in. A business idea in this regard : A person is given a card or a band with RF id chip inserted in it and asked to interact with the space, while touching the objects of his or her inter-est it gets posted on their respective page. It would help to map the behavior of a person across catego-ries. This way publicity for a particular product is taking place which is more authentic because a par-ticular company is not doing it but a customer’s word of mouth is spreading with the help of social media. Also the number of likes for the particular posting would influence the decision being taken. In today’s scenario real objects are not mapped. The scope of social media could be extended to the real world which might not help to change the structure of store but the structure of information. 4.Markets like US n UK are very mature with acceptance of Social Media in daily lives of consumer. How do you think market for social media shaping up in India? Do you think Indian consumers are ready to embrace Social Media? A .The challenge for today might be the number of users who use internet but no doubt it is going to increase in future. There is an application developed by Mixorg called as ‘Mobile Harvest’, which targets the audience who are non-literate users. Through this application everything is into visual mode and by touching on it one gets the information and also is able to pass it on. It is similar to oral Face-book. People often stereotype social media as Facebook which is not the case, social media is infact the people who are connected, which is approximately 45 crore people. The major challenge faced is the change in mindset of the customer and there is a need for removing the barriers for the acceptance of change. 4.FB disappointed investors, Yahoo is on the downhill, and the world of social Media is very disrup-tive? What’s your strategy to remain competitive in this ever changing world of Social Media? A. The world of social media is always going to be competitive. The resources are cheap and it is very easy to enter, hence it is competitive. The fact of disappointing the investor holds true in case of valua-tion business model and not in case of sustainable business model. For example, Naukri.com is there, was there and will always be there because of its sustainable business model as they also have inflow instead of only outflow. This is not the case with Facebook which runs on a Valuation business model; there is only outflow to make it big. It is said ‘Company created by innovation is killed by innovation’. The company needs to make money in the period of its growth. The business model which Mixorg follows is a simple, service providing model. A company comes with a problem; it renders solution for which it is paid. 5.Google came in absorbed Yahoo, Facebook threatens Google, Pinterest has drive taken some pie away from the FB and all this has happened over the last decade! How difficult it is to convince the organization about investing in Social Media and about it being sustainable for near future? How difficult it is to convince the organizations about the advantages of social presence? How do you calculate the ROI for investments made in social engagements? A. The ROI is what convinces the company to invest in social media. There are case study on the com-pany’s site which clearly indicate the benefits which the respective organization have received with the use of social media. The sale strategy for the company is about creating belief on the tool of social media. The word ‘Social’ and ‘Media’ go hand in hand which is difficult for a layman to understand how to make most from it. The question of ‘what’ needs to be answered first before going into ‘how’ of the problem. 6.You currently offer only services in the domain of Social Media; Do you plan to launch any prod-uct or app? What’s your strategy in this regard? A. There are 2 plans to cover more or less all the segment: 1.All they have to do with this application is to touch on visual manifestation of everything and share. Mobile Harvest- to cater to that segment which is not comfortable with the new technology. 2.Learning about the customer to make a customer base through the inputs provided by customer themselves on their respective pages. 7.Message for MIBians? A. There is lot of opportunity in the present scenario given improvement in economic conditions. In the long run no bookish knowledge would help but the creativity, passion and innovative thinking would make you grow professionally. During the observation stage, do not stereotype anything but look beyond what is possible so that you can come up with something better.

Volume 1 , Issue 13

Cont…..from Page 1

Social media use for businesses has become an increasingly important

tool for companies to engage their current and potential customers into: getting to know the company, buying products or becoming a customer. A recent research performed by KPMG with approximately 1,800 managers and 2,000 employees in 10 major markets has pointed out that compa-nies in countries like China, India

and Brazil are on average using more social media than companies in the U.K., Australia, Germany and Can-ada. To be more precise, the percent-age of companies using social media in these 10 markets is:

China 82%

USA 71%

India 70%

Brazil 68%

Canada 51%

UK 48%

Germany 42%

Sweden 41%

Australia 41%

Japan 27%

CORPORATE SPEAK

Indian growth story is over-shadowed by a dark cloud, core sectors are not perform-ing, export is declining and investor report for INDIA is also adverse. The Economy is struggling to revamp the image and expansion plans in differ-ent sectors, demanding more from infrastructure but instead strengthening infrastructure, Asia's third-largest economy suffered a peak-hour power deficit of about 10 percent, dragging down Indian eco-nomic growth. India's energy crisis cascaded over half the country when three of its regional grids col-lapsed, leaving 620 million people without electricity for several hours, making it one of the world's biggest blackout. According to a report released by Deutsche Bank "While power failures are not new to India and businesses and con-sumers are adopt at dealing with them, the loss of produc-tivity and efficiency is consid-erable and has negative impli-cations for the economy". Ac-cording to the German bank, India's power sector has not kept pace with growth in the economy. It points out that while growth has averaged 8% in the last decade, with energy demand growing by 6.5%, power supply has risen by less than 6% a year. "The widespread power black-outs that hit India's north, east and northeast regions have had a credit negative effect on the country's economic activity," Moody's Investors Service said. According to Moody's, the power failure underscores inadequacy of the country's infrastructure,

“The World is changing very fast. Big will

not beat small anymore. It will be the fast

beating the slow.” -Rupert Murdoch Founder, News Corporation.

CMS , MIB

E-mail: 2006.samik@gmail.com,

mohammadfurquan1985@gmail.com

Phone: 8285707738, 9716926240

For Previous Editions Pleases Visit http://www.slideshare.net/mibytes/

documents

EDITOR-IN-CHIEF:

SUNAYNA KUMAR Assistant Professor.

STUDENT EDITORS:

MOHAMMAD FURQUAN.

NAMITA DHAMANI.

SAMIK SARKAR.

INTERVIEW BY:

RUCHIKA PARMAR.

CONCEPT & DESIGN:

SAMIK SARKAR.

infrastructure, which inhibits growth by discouraging invest-ment and impeding productiv-ity improvements "Power disruptions will further depress business sentiment, already dampened by slowing growth and the government's inability to implement meas-ures to revive investment," it said in a statement. Government which is already facing a bad phase and striving to get rid off the taint of scam and policy paralysis is again into a deep trouble by GRID FAILURE as government’s commitment to provide a world class infrastructure to investors is failing. The assur-ance and policy making is very different from executing it. This grid failure has pressur-ised the government to commit greater capital expenditure in the power sector. “This would put further pressure on the government's already stretched fiscal position”, Moody's said. The rating agency said the high growth enjoyed by India in the middle of the past decade were largely on account of accelera-tion in investment activity. And we could not forget the fact that, investment is neces-sary for any country to de-velop. "It's certainly shameful. Power is a very basic amenity and situations like these should not occur," said Divakar Bhatele, an IAS aspirant. “What is the Government doing if they are not in a position to provide electricity for Industry?” said Akash Jaiswal , a student of MBA(IB). Industry analysts are also showing concern about the infrastructure, as attracting investor for Indian market is getting worsen day by day. And because of this incident FDI inflow is more difficult to sustain its pace of

investment. Global investment is nec-essary and government is aware of the fact, as they are giving assurance to global investors. But assur-ance is not going to work because government is bound and not taking any steps which are necessary to ensure the investors and industry, as some major issues are in pending (FDI in RETAIL, ISSUE RE-LATED SUBSIDY, LOK-PAL BILL). Government should concentrate more on infrastructure and re-vive its image as a fa-voured investment destina-tion. The world investors are in a dilemma whether INDIA would be able to take advantage and attract more and more investment or not. So, the main focus of the government should be to gain the faith of the investors. The infrastruc-ture should be the main priority in this present scenario and power is one of the basic needs of the hour. So government should find some other sources of energy which will lighten up investors’ faces.

By— Md. Furquan 2nd Year MIB , JMI.

BLACK DAY FOR INDIAN ECONOMY.

Cont…..from Page 1

Quote For The Month