Come, let’s meet the world’s richest man

Now, it’s official – the Fortune magazine way! The magazine has declared that Carlos Slim – the Mexican telecom billionaire, who owns Latin America’s largest cell phone company America Movil – is now the richest man in the world. Slim – with a bounty of personal riches of $59 billion – has overtaken Microsoft founder Bill Gates. Fortune also added that Slim’s companies (other than Movil, he has a range of business interests – from a restaurant chain to a bank) accounted for a third of the Mexican stock market and that his family’s holdings was worth more than 5% of Mexico’s Gross Domestic Product (GDP) last year.

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Source : IIPM Editorial, 2008

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

Beijing begins the Olympics countdown

Quick, tell us why Wednesday, August 8, was so important? We’ll tell you why! In exactly a year’s time, the Beijing Summer Olympics – easily the greatest sporting extravaganza in the world – will be declared open! In the midst of strong criticism from all over about the host country’s violation of human rights (the fact that more than 70 local laws and decrees will be made before the Games that will banish local people who don’t have residency permits in Beijing – among other things) and faulty foreign policy (particularly with regard to African nations), there is reason to rejoice, be happy and raise a toast to China’s coming of age in the most global way possible!

This is going to be only the third time – since the modern Olympics began in 1896 – that the Games will be held in an Asian venue. In 1964 the Olympics took place for the first time in the continent – in Tokyo, Japan. After that, Seoul in South Korea played host in 1988. And now Beijing. The games will be celebrated from August 8 to August 24, 2008, with the opening ceremony commencing at 8:08 pm and 8 seconds at the Beijing National Stadium (nicknamed the “Bird Nest” because of its nest-like skeletal structure). The Games will consist of 302 events in 28 sports – just one event more than the Athens Olympics in 2004. Now for some news for marketers: throughout China, licensed Olympics merchandise stores have been in business since early 2007.

More than 800 official stores were in operation at the end of last month. Since July 31, 2007, Olympic merchandise has also been available online, with more than 5,000 products available via the official merchandising website, including apparel, mascot dolls, key-chains and even commemorative chopsticks.

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Source : IIPM Editorial, 2008

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

Murdoch gets his Journal!

So, finally the deed is done! After weeks and weeks of negotiating and renegotiating, media tycoon Rupert Murdoch has finally bought over Dow Jones and its flagship The Wall Street Journal. The world’s best-known – and most respected – financial daily now has a new owner. Of course, all this came for a price – and a whopping one at that: $5 billion, which is estimated to be 65% more than what the current market price of Dow Jones is! With this, the owner of News Corp. (Murdoch, who else?!) now has controlling rights of one more media company – the others being Fox Network, Sky Broadcasting and the Times of London. Earlier, the Bancroft family, (owners of the largest block of shares in Dow Jones & Co, and therefore had controlling rights over the company), had been apprehensive that the buy-out would lead to a compromise in the Journal’s renowned editorial independence. Two things happened after that. Murdoch promised that he is going to set up an independent editorial board that will oversee the content of the paper (so that it is not guided by any kind of vested interest). And, of course, the Bancrofts could not find a better offer – as good as what News Corp. was offering that is. Way to go Mr. Murdoch!

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Source : IIPM Editorial, 2008

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

Capital issues..

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Wake up call for Delhi administration
The Delhi Human Development Report 2006 published by United Nations Development Program in collaboration with the Delhi Government puts up some startling facts. The state having a per capita income that is around 2.5 times the national average is also the state which has a housing shortage of 300,000 units. Around 38% of these households (barring the slums) consist of single room units! The report states that about 100,000 people are homeless in the city and the visible cornucopias of Delhi are only hiding the true picture.

The other disquieting trend that the report reveals is that Delhi contributes 24.4% of all crimes, 24.4% of rapes and 17.6% of dowry deaths in the country. According to the Public Perception Survey 2005, only 19% of the residents feel safe in the state and 90% feel public transport isn’t safe for women. That’s surprising for a state which gloats over a 55,000 strong police force. The report states that discrimination against women is rampant and Delhi with a sex ratio of 821 is lowest in the ranks. Furthermore, it reveals that inspite of having one of the best hospital networks in India (646 hospitals, 993 dispensaries, & 250 maternity homes), ‘health for all’ remains a distant dream. As the capital, Delhi significantly represents everything that’s wrong with India. One can only wish the authorities would wake up and take action.

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Source : IIPM Editorial, 2006, Arindam Chaudhuri's Initiative

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Movements

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Rajeev Karwal (President and CEO of consumer durables, IT and telecom divisions of Reliance Retail) was one of the first high-profile hires of the Mukesh Ambani’s ambitious retail plans and he, interestingly, is also the first to put in his papers. The place of the ex-CEO of Electrolux India will be taken by Ajay Baijal, who was heading the channel business (wireless) at Anil-controlled Reliance Infocomm. The movement also marks the first top-level poaching between the businesses of two brothers.

• In the ad world, Sanjeev Gauba has joined Bates Enterprise as its Vice President after he quit Dentsu Communications seven months back. At Dentsu India, after the recent resignation of its two Executive Creative Directors, Sudip Bhattacharya (Creative Consultant, Dentsu Communications) and Rajat Basra (Associate Vice-President, Dentsu Media Palette) have also called it quits. While Bhattacharya is moving to M&C Saatchi as Creative Director, Basra is tight-lipped for the time being.

• Also, Aiyana Gunjan is joining Dentsu Marcom as Director, Strategic Planning. Arjun Mukherjee, who had resigned from Rediffusion DY&R, has joined Capital Advertising as its VP. Also, V. S. Rao has been elevated to the position of GM of R. K. Swamy, Hyderabad from the post of Associate Branch Director in Bangalore.

• While Vishal Chinchankar, who was earlier placed at Mindshare Interaction (India) as the Business Director has moved to MindShare Interaction, Singapore. Its CEO, Manpreet Singh, has decided to call it quits.

• As Neville Taraporewalla, ex-Yahoo! India Chief, takes over Connecturf as its MD, Yahoo! India has a new addition. Pete Deemer will join as the Chief Product Officer (R&D), Yahoo! India.

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Source : IIPM Editorial, 2006, Arindam Chaudhuri's Initiative

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Work and life: A Hobson’s choice?

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In fact, we would even vote to retire the term “work-life balance” and replace it with “worklife choices.” The problem is that “work-life balance” suggests there is one right ratio for how much time you spend working and not working, and with that we disagree. Sure, there’s a lot of politically correct advocacy for a kind of perfect equilibrium and it may very well be that many people wanting a 50:50 split between work and life. But some people love work so much and find it so gratifying that they want to live a different equation, say, something like 70:30.

Still others want to work just enough to support a life of avocation. For instance, we have a friend who writes and consults about two months a year to pay for travel the other 10. He thinks his life is perfectly balanced. Balance, we’re saying, is a personal choice based on what feels right to you, given what you want from life, both personally and professionally. With that choice, comes consequences.

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Source : IIPM Editorial, 2006, Arindam Chaudhuri's Initiative

Mirror, mirror on the wall; can you choose between the two at all?!

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Amidst a thunderous roar of applause and an assemblage of sirens from all across the country, there’s always a deserving dark horse who comes out trumps – the mistress of the glittering tiara! But when there happens to be more than just one powerful contender to possess that covetous crown, history is created… somewhat like one craft ed way back in 1994, when equal degrees of intelligence, poise, allure and confidence walked down the ramp; when the two mesmerising maidens stung glory with their elegance extraordinaire!

Grace knowing no bounds in our cultural ambassadors, the Scorpion duo of Sushmita Sen and Aishwarya Rai (November 19 and November 1 respectively) have landed many a conventionalist’s foot in the mouth who seconded “in youth and beauty, wisdom is but rare,” as remarked Alexander Pope. Where Ash stole away a million hearts and the Miss World crown at Suncity in 1994, looking the fl awless nymph that she is, the very dynamic Titu (as Sen is lovingly addressed) repeated the feat at Manila the same year, albeit for a different crown, and together redefined the eminence of beauty pageants for Indians altogether…

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Source : IIPM Editorial, 2006, Arindam Chaudhuri's Initiative

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Education and E-Governance

QUALITY DOES NOT MATTER...

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In September 2006, the global rating agency Fitch gave a red-alert to the Indian banking sector concerning the escalations in the total loans being extended. This warning was a general fall-out of the huge rise in retail lending. Looking at the wonderful opportunities in this particular sector and considering it to be the sunrise sector for the economy, one could perhaps dismiss this particular report as a false prophecy. But then that’s not the end of the story.

On October 22, 2006, domestic rating firm CRISIL published its report on the credit ratings of various sectors in the Indian economy, which asserted that pressure on credit quality (a measure of creditworthiness denoting a bond issuer’s capacity to pay back the amount) is only on the rise and may deteriorate in the coming 18 months. G. V. Mani, Director, Rating Criteria & Product Development, CRISIL endorses, “Going forward, increased input prices, high capital expenditure and higher interest rates, are likely to accentuate the credit quality pressures on this sector.” Also, the rising interest rates have minimal chances of easing out in the near term. While on one hand, the Indian economists are going gaga over the developments in the manufacturing sector, it is this sector that carries the lowest credit rating, representing the greatest danger. According to this report, the Modified Credit Ratio (MCR which numerically represents credit rating) has dropped to 1.0 during April-September 2006 as compared to 1.05 during the corresponding period of the previous year. Traditionally, it was the farm sector that was on the top of the defaulters list of Indian banks (much of which can be attributed to priority lending to the farm sector) and did the early damage in late 1990s, when Non-Performing Assets (NPAs) of Indian banks were 15.7% of loans. But the CRISIL rating is related directly to quality depreciation in corporate lending, which should necessarily serve as a wake-up call for the Indian banking sector.

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Source : IIPM Editorial, 2006, Arindam Chaudhuri's Initiative

Mis’management education!

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One anomaly relates to the risible move of the IIMs in involving a third party like NIIT. Critics point out that it wasn’t long ago when premier institutions like IITs offered distance learning certificate programmes through questionable and shady outfits like CEP (in IIT Kharagpur), FITT (in IIT Delhi), and marketed them through a worse external outfit called ElNet-3L, which eventually turned out to be a completely fraudulent company, duping thousands of students and going bust consequently, ensuring a massive loss of face to the IITs. No doubt, the 25-year old NIIT’s name is much respected; but wasn’t it only around a year back that the much-hyped NIIT University, after negative court rulings, had gone into a limbo, and started operating in January 2006 under the new name of TNI from a ‘transit campus’ in Lajpat Nagar, a middle class residential locality in New Delhi?

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Source : IIPM Editorial, 2006, Arindam Chaudhuri's Initiative

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