Wall Focus -120

(News collection for Management studies)

Volume: 02           Issue: 120         15-November, 2010 – Monday Pages:16
Focus Brand Line – Interview -‘You also need to focus on the employee experience' - Venkat Ramaswamy explains why..
If you want to practise co-creation with external stakeholders you have to start with internal stakeholders.

So, from 2004 to now, did you have to redefine the concept?
Yes, of course! Earlier, it was largely company and customer. Now it is all stakeholders. But, I also discovered that the concept of “engagement platform” is very important. Today, you can practise large scale co-creation thanks to these new platforms, that's what I learned in my engagement with companies. Also, all of them are focusing on the customer experience but you also need to focus on the employee experience, especially customer-facing employee experience in order to co-create the customer experience.
So, if you want to actually practise co-creation with external stakeholders you have to first start with internal stakeholders. Ironically, the place to start is inside. Otherwise what you get is fragmentation; one department doing one thing, another developing disconnected technology platforms, and at some point when a department needs resources from somebody else or its platform needs to link together with another, then things don't sustain. So, the biggest opportunity for leveraging the power of co-creation is inside the organisation, especially for Indian conglomerates.
What are the examples of successful co-creation that you outline?
There are several Indian examples such as Hindustan Unilever's Sunsilk Gang of Girls effort, changes at Nokia customer care, ITC e-Choupal, ABB India, Infosys and HCL. An interesting example is of ABB India and its work in Rajasthan's villages where they brought electric power using solar panels and a battery-generated product. It is hard for villagers who haven't experienced the benefits of electric power to want it at first. They said their life is going fine and why do we need it? Then, by actually engaging the villagers in a dialogue to co-create insights, and through co-experimentation and co-design of “value”, with NGOs, Tata BP Solar, and the Rajasthan Government - for example, pilots where villagers could experience light and see the difference when they could improve productivity by weaving at night, and involving them in an ongoing discussion of “value”; making transparent what ABB learned to all stakeholders and interacting on a continuous basis with the villagers being part of the process - ABB realised that “everybody” has to have a “mutual value creating stake”. So villagers, ABB and the government pay one-third each. As they started to co-create the power of power, literally (laughs) they started to get more involved. So, how they took this to the next level, with the Panchayat involved, came from the co-creative engagement process.
Besides, there are many (over 35) examples from around the world, in different sectors, covering different functional areas, to show the universal applicability of co-creation principles to generate expanded value. Think of it this way – wherever there is interaction, there is opportunity for co-creation.
SPECIAL FOCUS
It's true, India has emerged (Contributed by RAGHAVENDRA.B, 09D61E0003)
If one single statement of President Obama captures his trip to India signifying a strategic shift in Indo- US relations, it is this: “India is not simply emerging: India has already emerged.” The question is: what prompted Obama to make this pithy statement? In recent years, India has slowly but steadily moved on to the high table of global engagement. Our role in G20 in mediating on conflicting positions between major nations and taking an independent position on the emerging global architecture have been acknowledged.

Another manifestation of India’s rising power has been the increase in India’s quota share in IMF . As for the WTO, India has steadily become a deciding voice. On climate change, Copenhagen had a defining moment when India became the fulcrum in negotiating between major pressure groups to save the conference from falling apart. Now there is talk of India becoming a part of an expanding G8 , while India’s leadership is being sought in APEC , OECD and International Energy Agency . There is even talk of India’s inclusion in the ‘Five Eyes’, a five-country grouping which currently share sensitive counter-terrorism information with ‘interoperability (secure exchange)’.

Mr Obama’s statement reflects a culmination of all of these multidimensional global developments vis-à-vis India. Also significant is President Obama’s avoidance of the controversial ‘O’ word — outsourcing, during his visit. In fact, poignantly he said: “I did not make outsourcing a bogey man during my trip.”

Here, we must not forget that in his scintillating biography Audacity of Hope, written much before he became President (in 2006), he spoke of an indelible impression on his mind when he visited Galesburg. A Maytag Plant of 1,600 employees had just been closed because it migrated to Mexico. On his drive back to Chicago from Galesburg, he tried to imagine the plight of a worker Tim. He ruminated over “Tim’s desperation: no job, an ailing son, his savings running out”.

Mr Obama added: “Those were the stories you missed on a private jet at 40,000 feet.” Given these heart-wrenching feelings on outsourcing, it must have taken Herculean effort on the part of Obama to move from ‘stopping outsourcing’ to the mantra of ‘fresh job creation in the US’ as the theme of his India visit.

He is aware, as elucidated in the Ficci-Maryland University study, that Indian corporates acquired as many as 372 American firms and created 127 new companies (greenfield) during 2004-09. Of these, 85 companies alone supported 40,000 jobs for the US workforce. It is little known that the aerospace giant, Boeing, alone will be selling $28 billion worth of aircraft to Air India, SpiceJet and Jet Airways , which will create 280,000 jobs in the US.

This, aside from the 50,000 jobs talked about in the media from deals worth $10 billion signed during his visit. Obviously, the table is turning. From the days of PL480, when our food security depended on wheat production in Nebraska, we have arrived at the point where Indian corporates are playing the role of ‘white knights’ in shining armour for the US economy.

Aside from the bonhomie and dancing to Bollywood and folk tunes, there were serious exercises on institution building between the US and India. We now expect to see a joint clean energy research & development centre, a global disease detection centre and greater US participation in the global centre for nuclear energy partnership.

Indian rupee gets distinct symbOl
(Contributed by RAGHAVENDRA.B, 09D61E0003)                        

India has finally got a symbol for the Rupee, denoting the strength of the economy, and joined the select club of countries whose currencies have a unique identity. The union cabinet has approved the symbol – an amalgam of the Devnagari ‘Ra’ and the Roman capital ‘R’ without the stem and two parallel lines running at the top. The parallel lines symbolize the ‘equal to’ sing. Announcing the cabinet decision Union minister for Information and Broadcasting (Ambica sony) said on July 15th that it denoted the robustness of the Indian economy. With the gaining of the symbol, the Indian rupee joins the club of US Dollar , British pound , European Euro and Japanese  yen that currently have their own symbols. “ The symbol for the Rupee would lend a distinctive character and identity to the current and further highlight the robustness of the Indian economy as also a favored destination for global investments”, said an official statement. The symbol will distinguish the Indian currency from currencies of countries like Pakistan, Nepal, Srilanka  and Indonesia which also use ‘Rupee’ or ‘rupiah’ to identify their respective currencies.
The symbol was designed by D.Uday Kumar , who is with the department of design at IIT Guwahati. “My design is based on the Tricolor with two lines at the top and white space in between. I wanted the symbol for the rupee to the Indian flag,” said Kumar.   


MILE STONES OF RBI (Contributed by RAGHAVENDRA.B, 09D61E0003)                        

v     1926 : Royal commission on Indian currency (Hilton young commission) recommends the establishment of a central bank called the ‘Reserve Bank of India’.

v     1931 : India Central Banking Enquiry committee revives the issue of the establishment of the Central Bank for India.

v     1934 : Reserve Bank of India Act,1934, constitutes the statutory basis on which the bank is established.

v     Jan 1938 : First Reserve Bank notes issued.

v     1940 : The silver rupee replaced the quaternary alloy rupee. One rupee note reintrodused. This note had the status of a rupee coin and represented the introduction of official fiat money in India.

v     1944 : the security thread on notes introduced for the first time in Indian as a security feature.

v     Jan 1st 1949 : Reserve Bank of India nationalized.

v     July 1964 : IDBI established as a subsidiary to the Reserve Bank of India with the purpose of providing long-term industrial finance.

v     Mar 1966 : Operations of co-operative banking system brought under the regulatory ambit of the RBI, Banking laws.

v     July 1969 : 14 major Indian Scheduled commercial Banks with deposits over Rs 50 crore nationalized.

v     Jan 1974 : Foreign Exchange Regulation act 1973 came into force to conserve foreign exchange. It’s a administration was entrusted into the Reserve Bank.

v     Apr 1980 : Six more private sector Banks nationalized.
v     July 1982 : National Bank for Agriculture and Rural Development (NABARD) established on the basis of the National Bank for Agriculture and Rural development Act,1981.

v     Aug 1994 : Rupee made convertible on the Current Account.

v     Oct 1994 : Lending rates of commercial banks deregulated.

v     Feb 1995 : Bharatiya Reserve Bank Note Mudran Limited established as a fully owned subsidiary of the Reserve Bank.

v     2000 : Foreign Exchange Management Act, 1999 replaces FERA, 1973.

v     Sep 2002 : Schemes to open Off-shore Banking units in special economic zones by Banks introduced. These units would be virtually foreign branches of Indian Banks but located in india.

v     2004 : Fiscal responsibility and Budget Management Act enacted.

v     2007 : RBI empowered to regulate payment system.

v     Apr 1st 2010 : RBI completes 75 years of existence.

DAY FOCUS:  (Focused by K.Mounika- 09D61E0030)

Suu Kyi calls for direct talks with junta leader


Myanmar's pro-democracy leader Aung San Suu Kyi displays a placard that reads, “I also Love the People”, to her supporters at the headquarters of her National League for Democracy Party on Sunday in Yangon. Suu Kyi, freed from seven years of house arrest, told thousands of supporters on Sunday that she would continue to fight for human rights and the rule of law.

Industrial production growth slows to 4.4 %

In what could put a spanner in the economic growth story, India's industrial production grew at a disappointing 4.4 per cent in September as compared to 8.2 per cent in the same month of the previous fiscal with the decline in capital goods output being the main pull-down effect.
The government figures released on Friday indicated that industrial growth was slowing down as the Index of Industrial Production (IIP) has shown a declining trend during the past two months. The UPA-II regime, which has projected a growth of 8.5 per cent this fiscal, could have a situation on its hand. A worried Finance Minister Pranab Mukherjee said it was a matter of concern and the Government would have to examine the reasons behind this fall. The negative growth also impacted the stock markets where there was a sentiment to sell.
The quick estimates of IIP, with base 1993-94, for September released by the Central Statistics Office of the Ministry of Statistics and Programme Implementation on Friday, said the general index stood at 325.6 as compared to 309.1 in the previous month.
During the first-half of the fiscal, industrial output averaged at 10.2 per cent. The IIP for 2010 was revised upwards to 6.9 per cent from the earlier 5.6 per cent. Though 14 out of the 17 industries, which constitute the IIP, posted positive growth in September, the quantum of increase was modest, as per data released by the Central Statistical Organisation (CSO).
The manufacturing sector, which constitutes a major chunk of IIP, grew at 4.5 per cent in September as compared to 11 per cent in the same month a year ago. Electricity generation too was in slump, nudging up just 1.7 per cent in the month under review as against 3.8 per cent in September 2009. The mining sector grew at a relatively faster rate of 5.2 per cent in September as compared to 8.7 per cent last year. Capital goods saw output declining by 4.2 per cent in September.
Among other sectors, intermediate goods production rose 10.3 per cent while basic goods output was up 3.5 per cent. Consumer goods recorded an overall growth of 5.2 per cent, with consumer durables logging a 10.9 per cent increase in output and consumer non-durables production rising 2.5 per cent.
“Manufacturing sector's growth is on expected lines as monetary tightening by Reserve Bank of India (RBI) was going to moderate the growth of the sector.

Real Estate & Construction -Marketing – Trends -States - Maharashtra
Mumbai office space, fourth costliest to rent in the world

A 100-sq. ft cubicle or workstation for a middle-level corporate executive at Nariman Point or Backbay Reclamation in Mumbai costs as much as Rs 47,675 a month for a corporate housed on the seafront. The rental component can also near total half an individual's take-home pay too.
A recent CB Richard Ellis Group survey pegs Mumbai office rentals at Rs 5,721 a sq. ft per annum and New Delhi at Rs 4,512 a sq ft while ranking them fourth and 11 {+t} {+h} among the most expensive global office markets as of September 30.
If the rentals gladden the hearts of landlords, the going may not hold good for long. Ever since the economic slowdown, corporates have slowly but steadily migrated from the charmed
Marine Drive
, either to rationalise on cost and settle in more spacious premises. As a spinoff, it appears to have benefited their employees, who in any case, live in suburbs and far flung areas.
Hindustan Lever, the Birlas, the Ambanis, and most public and private banks whose offices once showcased the famed central business district of Backbay Reclamation and Nariman Point to the world, have bid adieu to the seafront.
The Aditya Birla Group has shifted to Worli. Hindustan Lever has settled down at their Andheri East premises. Both the Ambani siblings have their major establishments working out of Navi Mumbai.
The famous diamond market Jhaveri Bazaar is all set to move to the Bharat Diamond Bourse at the sprawling Bandra Kurla Complex.
The Mumbai Cricket Association now has a stadium at BKC. JP Morgan has its own building in Kalina. MNCs such as Bayer prefer to work out of Powai and Thane. Almost all PSU banks have large holdings in BKC.
When the markets tanked in 2008, many establishments thought it fit to cut expenses by heading north of Nariman Point.
“We needed about 8,000 sq ft keeping in mind future requirements in addition to our Nariman Point office that we own.
“The choice was between Bandra and Andheri. As most of our staff live in the suburbs, we zeroed in on Andheri. With office space prices set to drop, we are looking at buying a property in suburbs,” said Mr Waqar Naqvi, CEO, Taurus Mutual Fund.
The survey, which tracks occupancy cost for prime office space in 175 cities, lists: London (West End) at Rs 8,634 per sq ft/ annum as the most expensive office market followed by Hong Kong Central Business District (Rs 8,211 sq ft/annum).
Tokyo's Inner Central (Rs 7,043 sq ft/annum) remained the third most expensive market for office space.
Index Outlook — Stymied by global worries



 
Sensex (20,156.9)
 Investors were jolted out of their post-Diwali stupor when the market suddenly turned tail and headed downward. The formula that induced the correction last week was similar to the one that caused the wobble in January and May this year: European sovereign debt, monetary tightening in China and global growth concerns.
The liquidity prop was withdrawn slightly as foreign investors turned net sellers in the last three sessions of the week. No one can complain about these investors cashing out some of the gains made since September. Volumes were very high through the week. Derivative volume nudged Rs 2 lakh crore on Friday as traders churned their positions aggressively.
Open interest has once again piled up to Rs 1.7 lakh crore. Interestingly, the put call ratio is quite low, close to 1 indicating that bears are finally winding up short positions. It is no wonder that the correction has kicked off now since the market derives this vicarious pleasure in trapping the maximum number of people on the wrong side. The Sensex could not better the muhurat trading session peak and reversed from the intra-week high of 21,076. Oscillators in the daily chart have taken a dent and are signalling a sell.
The 14-day relative strength index has retreated in to the negative zone. Weekly oscillators are not affected much by last week's decline and neither are monthly oscillators, implying that though the short-term could be choppy, the trend in longer time frames is not under threat yet.
The strong close of the Diwali week had lulled us in to believing that the momentum could carry the Sensex a little higher beyond the previous peak of 21,207 before correction sets in. But the decline last week suggests that a five-wave move from 15,960 low formed on May 5 could have been completed at 21,108, a tad short of the previous peak.
As indicated last week, the targets for the 5 th wave from 15,960 low are 20,922, 21,638 and then 22,460. This wave can terminate between the first and second target at 21,108. The question is how deep can the ongoing correction get? The most likely targets for a medium-term correction are between 19,563 and 19,141.
We stay with the view that a sideways move between 19,500 and 21,500 is possible for the rest of this year before the index attempts to move higher. The medium-term view will be roiled only if the index goes on to close below 19,141.
The short-term trend is down in the Sensex but it has strong support in the band between 19,800 and 20,000 from where a bounce is possible. Psychological significance of 20,000 level and presence of the 50-DMA at this juncture adds to the significance of this support. Subsequent supports are at 19,712 and 19,355. Resistances for the week ahead would be at 20,500 and 20,750.
Nifty (6,312.4)

Nifty too could not record a new life-time high and reversed lower from the peak of 6,335 formed on Monday. As indicated last week, the target of the 5 th wave from 5,937 trough was at 6,290, 6,509 or 6,760. It is possible that this wave terminated after crossing above the first target. If so, the correction that ensues that pull the index lower to 5,872 or 5,745.
What can ensue is sideways consolidation in the band between 5,800 and 6,400 for the rest of this year. Such a move however maintains the long-term bullish outlook for the index since it would be the second wave of the move from 5,937 with the third wave up yet to unfold. Medium-term view for Nifty will turn negative only on a close below 5,745. Subsequent targets are 5,565 and 5,380. The short-term trend is down and any bounce next week will face resistance at 6,165 and 6,235. Traders can initiate short positions on reversal from either of these levels. The index however has strong support around 5,960 and traders should watch out for reversal from this zone.
Global cues
 Global indices reversed lower in the second half of the week to end about 2 per cent lower. Volatility index spiked above 21 on Friday and finally closed at 20.6 denoting that investors have turned nervous with Irish debt concern and fears of China hiking policy rates. The Shanghai Composite Index that had gained 20 per cent since beginning of September nose-dived 5 per cent on Friday. That this index is reversing lower from its 40-week moving average and its key resistance at 3,300 does not bode well for the medium-term outlook in this index.
 DJ Euro STOXX is reversing lower from the medium-term resistance at 2,824 implying that the down-trend that began in April continues to be in force in the index.
 The Dow reversed lower from the peak at 11,450 to close below the key long-term resistance at 11,266. As mentioned last week, this level (11,266) is extremely important and Dow needs to sustain above it for at least a couple of weeks to signal a break-out.  The pattern that is forming since July low appears to be an irregular flat and this pattern could have ended at the 11,450 peak. The short-term trend has however not reversed lower with last week's decline in Dow. A close below 11,000 will herald the onset of a medium-term down-trend.

MANAGEMENT TIPS:

( Contributed by Prof. B.Sundara Rao, HOD, Department of Management Studies, Raja Mahendra College of Engineering, Ibrahimpatnam)

IAS TOPPERS ANSWERS*
Q. How can you drop a raw egg onto a concrete floor without cracking it?
A. Concrete floors are very h ard to crack! (UPSC Topper)

Q. If it took eight men ten hours to build a wall, how long would it take
four men to build it?
A. No time at all it is already built. (UPSC 23 Rank Opted for IFS)


Q. If you had three apples and four oranges in one hand and four apples
and three oranges in the other hand, what would you have?
A. Very l arge hands. (Good one) (UPSC 11 Rank Opted for IPS)


Q. How can you lift an elephant with one hand?
A. It is not a problem, since you will never find an elephant with one hand.
(UPSC Rank 14 Opted for IES)


Q. How can a man go eight days without sleep?
A. No Probs , He sleeps at night. (UPSC IAS Rank 98)


Q. If you throw a red stone into the blue sea what it will become?
A. It will Wet or Sink as simple as that. (UPSC IAS Rank 2)


Q. What looks like half apple ?
A: The other half. (UPSC - IAS Topper )


Q. What can you never eat for breakfast ?
A: Dinner.


Q. What happened when wheel was invented ?
A: It caused a revolution.


Q. Bay of Bengal is in which state?
A: Liquid (UPSC 33Rank )



Below are the Interview Questions, which were asked in HR Round.....
No one will GET second chance to impress....
Very very Impressive Questions and Answers..... ...




Question 1:
You are driving along in your car on a wild, stormy night,
it's raining heavily, when suddenly you pass by a bus stop, and you see
three people waiting for a bus:
An old lady who looks as if she is about to die.
An old friend who once saved your life.
The perfect partner you have been dreaming about.
Which one would you choose to offer a ride to, knowing very well that
there could only be one passenger in your car?
This is a moral/ethical dilem ma that was once ac tually used as part of a
job application.
* You could pick up the old lady, because she is going to die, and thus
you should save her first;
* or you could take the old friend because he once saved your life, and
this would be the perfect chance to! pay him back.
* However, you may never be able to find your perfect mate again.
The candidate who was hired (out of 200 applicants) had no trouble coming
up with his answer. Guess what was his answer?
He simply answered:
"I would give the car keys to my Old friend and let him take the lady to
the hospital. I would stay behind and wait for the bus with the partner
of my dreams."
Sometimes, we gain more if we are able to give up our stubborn thought
limitations. Never forget to "Think Outside of the Box."



Question 2:
What will you do if I run away with your sister?"
The candidate who was selected answered " I will not get a better match
for my sister than you sir"



Question 3:
Interviewer (to a student girl candidate) - What is one morning you woke
up & found that you were pregnant.
Girl - I will be very excited and take an off, to celebrate with my husband.
Normally an unmarried girl will be shocked to hear this, but she managed
it well. Why I should think it in the wrong way, she said later when asked



Question 4:
Interviewer: He ordered a cup of coffee for the candidate. Coffee arrived
kept before the candidate, then he asked what is before you?
Candidate: Instantly replied "Tea"
He got selected.
You know how and why did he say "TEA" when he knows very well that coffee
was kept before.
(Answer: The question was "What is before you (U - alphabet) Reply was
"TEA" ( T - alphabet)
Alphabet "T" was before Alphabet "U"



Question 5:
Where Lord Rama would have celebrated his "First Diwali"?
People will start thinking of Ayodya, Mitila [Janaki's place], Lanka
etc...
But the logic is, Diwali was a celebrated as a mark of Lord Krishna
Killing N arakasura. In Dusavata ar, Krishnavatha ar comes after
Raa mavatha ar.
So, Lord Rama would not have celebrated the Diwali At all!



Question 6:
The interviewer asked to the candidate "This is your last question of the
interview. Please tell me the exact position of the center of this table
where u have kept your files."
Candidate confidently put one of his finger at some point at the table
and told that this was the central point at the table.
Interviewer asked how did u get to know that this being the central point
of this table, then he answers quickly that
"sir u r not likely to ask any more question, as it was the last question
that u promised to ask....."
And hence, he was selected as because of his quick-wittedness. .......
This is What Interviewer expects from the Interviewee. ...



"THINK OUT OF BOX"




Focus – Day Tip
The satisfaction that you derive from rendering services is itself a reward.
Subscribe to: Posts (Atom)