Spot Light

S P O T L I G H T EDITION 1, FEBRUARY 2017 A B - C o m I n i t i a t i v e L A V A S A , P U N E , I N D I A

OUR INSPIRATION

No matter how proficient you are in your knowledge about management , none of the management functions can be carried S P O T out without effective communication. and L I G H T that's where the relevance of subject Business Communication lies. “ We bring out this edition of Spotlight to highlight all the learnings of first year that can be traced through the writings of students. We would like to thank our students for their continious efforts in bringing out this edition.” SPOTLIGHT

FROM THE DIRECTOR’S DESK It fills my heart with pleasure when I see a fast improvement in communication of students from the time they started their PGDM to the time when they are about to step into the second year. A lot has been achieved during this journey of first year of PGDM and good communication skills are the most important part of this achievement. Communication style of students gives me confidence that students will give their best in competitive corporate world. This magazine which contains all the learning’s of Business Communication classes is a proof that those classes were an indispensible part of first year. Heartiest thanks to Business Communication mentor for her role in moulding communication skills of students and giving it a right shape. Editorial team has done a great job by bringing out this magazine. May the communication skills of students keep improving with time! I wish them ‘All The Best’. Best wishes to editorial team for taking the initiative of bringing out this magazine. GOD BLESS ALL! Fr. Jossy P George SPOTLIGHT

INSTRUCTOR’S MESSAGE Effective communication enhances connectivity and connectivity opens up opportunities. We have no reason to disagree with the importance of business communication in management studies, but a lot of Indian institutes take minimal effort in structuring an effective curriculum for Business Communication. The standard input-output formula needs to be expressed in words of common language(English), and to assume this could be self-learnt is a blunder. I would like to thank Christ institute of Management, Lavasa for giving me flexibility to structure this course according to the student needs. It is not my place to comment on its success, but I am proud to say that students managed their best. As a result, I am happy to present the compiled online magazine ‘Spotlight 2017’ a result of the business communication course (trimester 1). I would also like to convey my gratitude to the Editorial Board of CIM for making this publication possible. Prof. Monica L SPOTLIGHT

MESSAGE FROM THE EDITORIAL BOARD Communication is the stepping stone of one’s career. Your knowledge will not play any role until and unless it is accompanied by good communication skills. When it comes to business, communication is regarded as a core competency which all the employees must have irrespective of the level he or she is working at. As a part of PGDM curriculum students were made to learn all the important aspects of Business Communication. This was an essential step to make students ready to face the cut throat competition in the corporate world. It is indeed a pleasure of the editorial team to bring out this magazine by combining all the learning’s of Business Communication classes. All the articles published in this magazine are written by students of Batch 2016-18. Our heartfelt gratitude to our mentor for her constant support and also to all the students for their contributions. Editorial Board also welcomes all your suggestions so that we can strive continuously to make this magazine better with each new edition. Thanks & Regards Editorial Board SPOTLIGHT

CONTENTS 01. All that glitters is gold 02. Greece - The economic crisis 03. A seat at the table 04. Nuclear Supply Group and India 05. Rise of TATA as global power 06.Online Retail 07. BREXIT and it’s impact on Indian economy 08. Business behind Indian weddings 09. Sand mafia-Beach sand mining 10. Gaming - A serious money making business 11. Facebook and growth 12. Entreprenurship - Changing taste of business world 13. Team management 14. Chinese slowdown in world market 15. Thinking of start up 16. From Walkman to iPod 17. Syrian crisis 18. Beyond customer satisfaction to customer delight 19. Next generation CEO’s 20. Panama papers 21. Satyam scam and it’s impact on business SPOTLIGHT

ALL THAT GLITTERS IS GOLD MARTIN PHILIPOSE PHILIP - 3 PGDM A G old as we all know is the most precious instruments of mutual fund. As compared to today's market price we have seen the metal go metal of all. India is one of the largest down as to rupees 2100/gm from rupees markets today for gold but more than an investment we Indians consume gold as in form 2600/gm in the previous years, when all the of ornaments, we see it as an indirect way of investors has written off gold as an investment investment. The Indian gold industry alone today instrument and was pressing the exit button due is worth more than US $45Billion, the industry to its constant fall in price in the market the metal plays a significant role in our economy through made an unbelievable come back. Today the the FDI (Foreign Direct Investment) and also gold exchange trade funds have emerged to be contributes 7-8% of the country's GDP (Gross the best money making instrument of mutual Domestic Product). According to the Department funds, on an average the returns on gold fund of industrial policy and promotion the foreign today claims over 11%. The one year category direct investment in the industry was over US$ average return on the metal is claiming on to be 750 million, the industry has an annual growth 11.7%, where large capital funds gave only about rate of above 16%. The sector is facing a change 2% and mid capital funds gave about 5.4%. The as consumer preference and tastes are growing price of the metal have gone up above 12% adaption of western lifestyle is another compared to the previous year's low rates , significant factor for the change and it has helped Today the price stands to be above rupees the industry grow as there are branded jewellers 2990/gm against last year's high of rupees to fulfil this need and preferences of the 2678/gm. The investors also insist that the metal consumers . These branded players bring in cannot be a substitute for Equity in the long run. more than half of the foreign direct investment In the coming years the growth in the industry into the country. India bullion and jewellers largely lies on the hands of development of association (IBJA) has signed an agreement retailers and brands. Established brands are with Bombay stock exchange (BSE) for setting opening an opportunities to grow, also the up India's first bullion exchange through a relaxation of government norms on the metal is special purpose vehicle (SPV) , where the BSE going to give a boost to the industry to grow. will hold about 30% and the rest by IBJA. The Reserve Bank of India (RBI) has relaxed the norms on the industry where it allows individuals, trusts and mutual funds to keep gold with banks in return for interest. When it comes to investment the metal is a Money making instrument due to its constant fall and rise of price in the market. Gold exchange trade funds have emerged one of the b e s t m o n e y m a k i n g SPOTLIGHT

GREECE THE ECONOMIC CRISIS DEVIKA ABROL - 3 PGDM A They also forced Greece to redesign its economy by streamlining the government, ending tax evasion and the actual purpose was to make Greece an easier place to do business. The main causes for the Greece debt crisis are- Government debt, deficit, Low GDP growth which has never allowed the operating areas to work or even flourish independent. No Cash availability has stopped the country from doing the slightest possible activities to help common man, earn the basic necessities of life. As of now , The country is still in recession , trying s the Europe crisis, had sown seeds of to make up for all that it has lost in the previous economic instability, other countries in decade , the money it has given has not been Athe continent stopped receiving financial recovered completely ,though it has started its aid from large countries such as Germany. A lot journey on the business cycle for and is of small countries coped up with changes; expected to be back in form in soon . unfortunately Greece couldn't recover from the haphazard of the same. There is no country more ruined than Greece. The saga of economic instability dates back to 2008 where Greece became the centre of Europe's debt crisis after Wall Street imploded in 2008. After no economic injections coming into play and continued economic decline, Greece announced in October 2009 that it had been wrongly interpreting its deficit figures for years which starting rising alarms about the soundness of Greek financial condition As a result Greece was disallowed to borrow money in the financial markets. By the spring of 2010, it got towards bankruptcy, which threatened to set off a new financial crisis. To address the so-called troika — the International Monetary Fund, The European Central Bank And the European Commission — issued the first of two international bailouts for Greece, which would eventually total more than 240 billion. The bailouts came with conditions. Lenders played well by imposing harsh austere terms like deep budget cuts and steep tax increases. SPOTLIGHT

A SEAT AT THE TABLE- GENDER EQUALITY IN CORPORATE BOARDS ELIZABETH MATHEW - 3 PGDM B Germany is the most recent European country to good business practice point to a loss in require many of their large corporations to shareholder value for some of the Norwegian reserve a percentage of corporate board companies that complied, and others remain positions for women — in this case, 30 percent of doubtful that increased female board the boards of some 100 companies. Some representation will improve women's advocates say that having female board participation in the corporate workforce. directors is good for business, while others argue While expectations of economic growth and that a quota doesn't need to generate financial family-friendly workplaces are misplaced, results to be fair. corporate board gender quotas are worthwhile The reasons behind the disproportionate gender for a different reason: They disrupt path- ratio of directors is a subject of much debate. A dependencies in corporate governance. In survey of more than 4000 directors found that France, for example, opponents of gender male directors over the age of 55 cited a lack of quotas fretted about the lack of qualify women to qualified female candidates as the main reason fill so many seats, but the immediate effect of the behind the stagnant number of female directors. search for women was a greater scrutiny of In contrast, in the same study, female directors corporate governance in the country. New and younger male directors considered the organizations promoted female board male-dominated networking that often led to the candidates and encouraged a more public appointment of directors to be the reason behind articulation of the qualifications necessary to women's slow progress serve on a corporate board. What should we expect of these laws that Business schools devised new training supports gender equality? Some proponents of programs for female board members, creating the gender quotas say that having more women opportunities for a greater professionalization of on a board improves the company's economic board members, as well as more robust performance, while others hope that gender- reflection on how corporate leadership should balanced boards will lead to more women in function. Because corporations undeniably exert management positions, equal pay initiatives and tremendous power and influence in democratic family-friendly policies like pregnancy societies, their governance mechanisms need to accommodation and generous parental leave. be legitimized. Gender balance has been a good Those who are sceptical that the laws have been place to start. SPOTLIGHT

NSG AND INDIA ROSHMI ROY - 3 PGDM A The nuclear supplier group (NSG) is a treaty countries like Pakistan should also be given signed by 48 countries, at present, to prevent membership to NSG. Since all decisions in the non-proliferation of nuclear material. This group NSG are taken by consensus, any country can was founded after the Indian nuclear test in May stop India from joining this prestigious group. 1974. Prime Minister Narendra Modi has reached out China acquired membership in 2004. India has to many countries including China and has been been trying to gain entry to this group since 2008. trying to convince them of India interest that lies in promoting a green nuclear environment and But how can this treaty be beneficial to the nothing political. Big powers like the U.S and country? Russia had interceded on behalf of India, thanks Here's how to NaMo's efforts. But it still did not convince This is the arena where nuclear trade rules are China and a couple of other countries who were set uncertain about India's membership. By becoming a member India can have easy Now this failure in acquiring the membership has access to the import and export market of definitely bought a lot of domestic criticism. As nuclear supplies. committed as the U.S is in helping India get this This will also provide India with access to foreign membership, without unanimous consensus and nuclear technology. China on the other side, India might not be a member very soon. Even though India was backed by Mexico, Switzerland and of course The United States, the proposition was strongly opposed by China. According to an editorial at least 10 other nations were against this new addition, but the strongest was China. According to China a non NPT, CTBT member should not be made a member of the NSG. Now this argument from Beijing's side must have been to simply stop India from gaining similar powers and not so much about principle. China also stated that if India is allowed then non NPT SPOTLIGHT

RISE OF TATA RISE OF TATA RISE OF TATA AS A GLOBAL POWER AS A GLOBAL POWER AS A GLOBAL POWER VYSHNAV S - 3 PGDM B The rise of TATA as a global power house was not as retail shop, hotels, outlets, industries etc. Now a miracle or magic. There is a lot of hard work and Tata has grown as one of the main brands in the sacrifice behind this growth. 1868: Jamsetji world. Their stocks have been listed in all of main Nusserwanji Tata starts a private trading firm, stock exchanges. They also work hand-in-hand laying the foundation of the Tata group. There first with our government in many times. They also large-scale industrial venture started by setting work in favour of the Make in India concept of our up The Central India Spinning, Weaving and government. As a part of this initiative they Manufacturing Company. But if we look the developed their own engine for cars and it was a market now Tata have their hand on each and huge success. As they say business and making every sector like communication, consultancy, money is not only their motive they serve the automobile, insurance, steel industry, beverages society in many ways like the Tata Group has etc. Ratan Tata was real person behind many of helped establish and finance numerous research, the drastic steps taken by the Tata group. The educational and cultural institutes in India. After present CEO of the group is Cyrus Pallonji Mistry. the Mumbai attacks, salaries of the attacked Taj There was one time when all the business Hotel employees were paid despite the hotel analysts criticised Tata, it was when they decided being closed for reconstruction. About 1600 to take over JLR. But that company now runs in a employees were provided food, water, sanitation huge success. It shows the will of former CEO and first aid through employee outreach centres. Ratan Tata. In 2014-15, the revenue of Tata Ratan Tata personally visited families of all the companies, taken together, was $108.78 billion. employees that were affected. The employee's These companies collectively employ over relatives were flown to Mumbai from outside 600,000 people. When it comes to automobile areas and were all accommodated for 3 weeks. sector, in Jamshedpur, Pantnagar, Lucknow, Tata Consultancy Service also designed and Sanand, Dharwad, and Pune in India, as well as in donated an innovative software package that Argentina, South Africa, Thailand, and the United supposedly teaches illiterate adults how to read in Kingdom they have their industries. It has 40 hours. \"The children of the people who have research and development centres in Pune, been through our literacy program are all in Jamshedpur, Lucknow, and Dharwad, India and school\", says Pankaj Baliga, global head of in South Korea, Spain, and the United Kingdom. corporate social responsibility for TCS. The Tata When it comes to our country only, in all our Group was awarded the Carnegie Medal of states, Tata group will have anything in their name Philanthropy in 2007 for philanthropic activities. SPOTLIGHT

ONLINE RETAIL: HOW IT'S CHANGING LIVES ROSHAN DEBANJAN SHAH - 3 PGDM A “Shopping isn't pleasant. It's painful,” and “What's world is your oyster. your time really worth?” are a couple of thinkers I Just think about the advantages! Consumers now would like to start my article with. don't have to worry about pushy sales staff, traffic, Welcome to 2016 and we've definitely changed parking, and the hundred other problems that they the way we shop! In just about a decade, online might have otherwise faced. An online purchase retail has gone from being practically non-existent can take as long as you like or be over in a matter to becoming worth billions of pounds every year. of minutes. You can buy from anywhere in the Online retailers offer massive number of choices world. It seems like it's the perfect time to shop and advantages to the common man. Sellers with online. premises are limited in the amount of products Of course, online shopping won't ever completely they can advertise or even keep in their eliminate traditional shopping. There are still inventories. areas where we would prefer going to a shop and That's totally understandable since both require a select items, than shop for the same online. considerable amount of investment. But there is no going back, and online shopping Online retailers have no such limitations. They will become an even more integral part of our simply have to show images and offer descriptions lives, growing more sophisticated year by year. of the entire range of products they offer, thus The Internet binds us all together in a way that was making things much better for consumers, and for pretty much unimaginable a generation ago. themselves too! It's easy since retailers intentionally make their web sites simple to Happy shopping! navigate, and added with a debit or card Viola! the SPOTLIGHT

BREXIT AND ITS IMPACT ON THE INDIAN ECONOMY RICHARD D DAIMARY - 3 PGDM B ritain, a magnificent country indeed famous for its would set up factories in Britain could sell their products freely horrible weather, love for tea, cricket, football and of in the EU under the European Free Market system. With Bcourse Her Majesty The Queen, Dr. Who and Beatles Britain's exit it will not be an attractive destination for Indian FDI and Queen the legendary bands. A country that was famous for as before. Britain also would not want to lose out on capital being an empire where the sun could never set. Great Britain coming from India as now with their exit there will be hesitation without a doubt deserves the title Great before Britain because by other countries to trade with her. Thus Britain may try to woo of her rich history. Of course, over the years the greatness of Indian companies by providing much bigger incentives like tax Britain may pale in comparison to her old glory days but her breaks, lesser regulation and other financial incentives. Plus, bold decision to step out of the European Union can be termed Britain leaving the EU's rigid bureaucratic system means a 'Great' nonetheless. much more free market in the UK. Britain always had a shaky relationship with the EU ever since With Britain's exit India will most probably look for ties with its conception after the 2nd World War. Britain argued that she another country within the EU which may prove to be beneficial was losing out a big deal by staying in the EU. She paid millions in the long run. India had already started building trade of pounds each week as contribution to the European budget, negotiations with the Netherlands, France, Germany and her exporters were handicapped by the extremely others although in small ways. Netherlands is as of now India's bureaucratic of the European parliament and the unchecked top FDI destination. India will now most probably form strong immigration from the EU was causing an imbalance in the trading connections with other EU countries for access to the welfare scheme of the UK government. On the 23rd of June large European market. With Britain now out of the EU she will 2016 a referendum was held where 52% voted to leave the EU be desperate to find new trading partners and a good and to 48% who voted against the decision to leave and just like stable source of capital and labour. Britain will need a steady that Britain left the European Union. But did Britain not inflow of talented labour and India fits perfectly to Britain's remember? She gains much more than she pays as needs because of the majority of its people speaking English. contribution, companies in Britain have or had unrestricted With flow of immigration from Europe most probably drying up access to the entire EU and regarding the immigration problem Britain would be able to accommodate migration from other she would still have to trade with the rest of the EU and to do countries from the commonwealth which would work in India's that she would need to accept some shares of outsiders within favour. In terms of education Britain is one of the most popular her shores. Being in the EU the UK's diplomatic and military destinations for Indians wishing to study abroad. Before objectives were complimented. The UK is also in fact BREXIT UK universities were forced to offer subsidized rates prospering as the fifth largest economy in the world. Now with to students of the UK and EU. Now, after the exit UK Britain outside the EU her weaknesses will be more carefully universities will no longer be obliged to pay EU students scrutinized than when she was on the inside especially her scholarships. This will free up funds for students from other continuing high annual budget deficit and growing debit and countries. Many Indian students will now get the chance to also her high current account deficit. study in the UK and get scholarships. Whether BREXIT The biggest concern from the exit of Britain is what impact will it happened or didn't it would be in the European Union's best have on the markets worldwide? There is no proper plan interest to develop India as a strong trade, military and regarding Britain's future relationship with the EU and all its strategic power. Europe needs to counterbalance the United member nations. Will she still have access to European States and China geopolitically. The EU would also need to markets? Will trade barriers increase if they leave? Are there hedge against a slowing China for its economic interests. For any agreements with the union regarding the movement of this the EU would most probably look at the world's fastest capital, goods and labour? These unanswered questions are growing economy and quickly resolve any trade issues it has the main reason the markets worldwide are currently spooked. with India in order to develop a lasting relationship which Without a doubt one country Britain is going to make sure she benefits both parties. still has trade relations is India the country she has a deep Though the exit of Britain may make the country suffer in terms connection with both historically and economically. India is the of reduced trade and a drop in their GDP the overall effect world' 2nd fastest growing economy and is a hot destination for could turn out to be positive for India. There is, of course no investment. India is also presently the 2nd biggest source of concrete proof of such theories that are based on speculation FDI (Foreign Direct Investment). The UK proved to be a and math. Only time will tell whether Britain's decision was a gateway for India into the EU market. Indian companies that wise one and in the long run will it be truly beneficial to India. SPOTLIGHT

BUSINESS BEHIND INDIAN WEDDINGS AMALU LALICHAN - 3 PGDM A arriages are made in heaven, but they have to be business in India. planned on earth! And the planning is no more solely Another factor that has given a boost to wedding planning Mdone by the elder family members but by a capable business in India is that they take ample care of everything team of professionals – “the wedding planners”. Weddings including venue, décor, catering and so on which leaves the have become one occasion when people are ready to spend family free to attend the wedding with a peaceful mind instead more than what they have in their pockets. They are more of of running around behind all these preparations. status symbol and showbiz. Wedding happens only once in a while in our families and we Weddings are time when the whole family reunites and it is not are left completely unaware of whom to approach for the easy for a few of the elder members to properly attend to every arrangements. There are chances that we rely upon someone little nuance. This is when the wedding planners make their who is inappropriate who would probably spoil the whole thing. entry with an offer to make the wedding ceremony a Nobody wants such a thing to take place, which is another memorable one. With friends and families blending in to create reason that leads them to wedding planners. unforgettable moments, Indian wedding planners strive Now a common question pops up in our minds as to how much towards creating a deeply personal function which will reflect money do the wedding planners in India make and whether it's the family's style completely. profitable for them. For most wedding planning businesses, it Wedding planners in India are often referred to as the 'dream takes 2-4 years to become profitable. It may take a few years merchants' who cater to all the sky high expectations, before you are fully booked with clients. It also depends on demands and requirements of the rich and famous. Wedding your business and marketing knowledge and how satisfied planning has now become more of a necessity than a trend, your clients are with your service. You will also benefit from and more and more couples resort to professional wedding word-of-mouth and referrals from past clients. planning for their big day. \"People are ready to spend from Rs 5 lakh to Rs 1.5 crore on There were times when all the decisions regarding marriage weddings and the agency generally charges 15 per cent, which were made by the bride's and groom's parents and family is negotiable to 10 per cent depending on the cost of the members. The coupled did not have much of a say in it. marriage” as informed by a leading wedding planner. Each However, times have changed and we now come across many year, around 2,000 high-end weddings take place in India. The couples who like to stay involved in their marriage preparations estimated Rs.150000 crore Indian wedding industry is growing right from the beginning. They love to bring experts into the at 20% annually. Therefore for all those who want to land up as picture in order to make their day unique and outstanding. In a wedding planner this is the best time. It is booming business that sense, the change in attitudes and opinions of people have for wedding planners in India and is expected to spike up in the contributed substantially to the growth of wedding planning coming years as well. SPOTLIGHT

SAND MAFIA BEACH SAND MINING VIKNESH - 3 PGDM B amil Nadu having the second largest coastline in India waters coming close to the houses. The sand after extracting the has mineral rich sand in its southern parts, which has led minerals are to be dumped back but they don't do it and are Tto various mining activities along the coast. One of the dumped in nearby barren lands. This also has led to destruction biggest player in beach sand mining is Vaikundarajan chairman of natural beaches, habitat loss, increased shoreline erosion of V.V. Mineral, Mining along the coast for about 508 km stretch rate and reduced protection from storms, tsunamis and high and started establishing since 1989. Which has led them in tides. having a significant market share in Europe, USA, Australia, Also many activists and environmentalists have protested Middle East and East Asia. against these mining activities and many cases were charged The state government estimates to 2000 tons of sand to be against him, but having a strong political support from AIADMK mined but around 50,000 tons are mined everyday by this group. (a major political party in Tamil Nadu) he is unharmed. Village Estimates tells that for every ton mined ₹.20 goes to a close aid Administrative Officials (VAO), Revenue Departments (RD) and of the chief minister which is around ₹.10 lakhs/day. The other government officials who are supposed to act against the minerals they get by mining are garnet, limonite, Rutile, Zircon, illegal miners are either paid off or if they turn out to be honest Sillimanite and monazite. Monazite being an atomic mineral, it they are being targeted through other means. Though small time can be processed to remove thorium and uranium which are miners are arrested periodically the 'big fish' is left untouched. nuclear fuels. Monazite can be mined only by the union Many researchers, protesters and government officials have government but the state government has given license for this died by unnatural deaths because they were anti sand mining group to mine (only private party) but this license can only be activist. U.Sagayam, district collector who investigated about given by Atomic Minerals Directorate (ADM) which has made illegal mining with the help of some activist he submitted a report this group a large player in the country. Exporting these and within days of submitting the report he was transferred out of monazites are done illegally. the district. Due to these kind of mining activities various threats arises, Houses used to be where the sea is now in the past and the recently a village along the shore was affected due to the sea houses are kept moving back as the sea comes in. However only by enforcing effectively the existing laws is the only card left to SPOTLIGHT

GAMING A SERIOUS MONEY MAKING BUSINESS DEENAR PALWANKAR - 3 PGDM B Since the inception of DOTA (Defence of The Ancients) map, first place by the end of the tournament will be richer by at least which was available in Blizzards Warcraft 3: The Frozen Throne US$ 8 million dollars or more. But, what is more fascinating here we have been closely watching (and playing) this popular 5 is that by just selling this one in-game purchase (and levels versus 5 multiplayer online battle games on the PC. The game points) Valve has managed make over US$ 9 million in the last 5 maker (designer) of the map called IceFroglater joined hands days. Valve pockets US$ 7.99 for each Compendium sold and if with Valve in 2009 to produce the map as a separate game my calculations are right they have sold over 1.2 million of these (stand-alone) all together, calling it DOTA 2. nifty little DOTA 2 tournament compendium books (and level Well today it is one of the most played online game on PC and points). And as we speak thousands of gamers from across the has servers all over the world, which get staggering number of globe are buying them making Valve richer by millions of dollars. gamers each day and it keeps on increasing. Valve recently Valve was founded in 1996 by former Microsoft software announced 'The International 2016' DOTA 2 tournament where developers Mike Harrington and Gabe Newell. Harrington best teams from all over the globe like Navi from Ukraine, dissolved his partnership with Newell and left Valve. Newbie from China and Evil Geniuses from USA are invited to Valve's actually makes money its Steam platform which play the tournament and win a prize that will go into millions of functions as the worldwide software client of video games. dollars. According to Varoufakis, 70 % of all games are sold through the The tournament was announced 10 May, 2016 with starting total Steam platform client, which has around 55 million users all over prize money of US$ 3 million, the latest DOTA 2 tournament has the world. It generates an estimated $1 billion a year. seen a great opening. The prize pool gets larger as people keep buying the 2016 edition of 'The Compendium' worth US$ 9.99. For each Compendium sold The Internationals prize pool gets US$ 2.5. Over that, the prize pool also expands when people who have already purchased the Compendium, buy points, treasure chest to level up their Compendium rank/level. Increasing the ranks fetches the Compendium owner's additional in-game goods, prizes and items. People can buy 2,400 points of US$9.99 out of which US$ 2.5 goes to the prize p o o l , w h i c h i n d e e d s t a c k s a h u g e a m o u n t . Within 5 days of launch the total prize pool has crossed US$ 6 million and if it goes at the same pace the prize pool will cross US$ 10 million in no time. This means the team who comes in the SPOTLIGHT

AND GROWTH MARCEL CHAUDHARY - 3 PGDM B Facebook is a social media platform used basically for Since the time Facebook got into the business mode, it has connecting with people, chatting with friends, sharing photos, acquired more than 50 companies of which the acquisition of videos etc. This extremely successful website was not created Whatsapp on Feb 19, 2014 was the biggest being for a by business tycoons but by a 20 year old Harvard sophomore on whopping $19 Billion. Among other famous acquisitions, Feb 4, 2004 without researching the market or applying Facebook also acquired Instagram on April 9, 2012 for $1 Billion. trademarks. Mark Zuckerberg, the CEO of the company, just On April 12, 2016, the CEO of the website, in a keynote address built a cool product and simply launched it. revealed Facebook's decade-long plan. It mainly consisted of On September 26, 2006, Facebook was opened to anyone his Vision for Facebook which was mainly centred around above 13 with a valid email address. By the increasing popularity artificial intelligence, increased connectivity around the world and projecting great promise, on Oct 24, 2007, Microsoft and virtual and augmented reality. purchased a 1.6% share of Facebook for $240 million which lead The primary source of Facebook is though advertisements. The to Facebook having a total implied value of around $15 billion. website has a low clickthrough rate (CTR) for ads than other Facebook has not faced any sort of competition since its birth. major websites. This is mainly due to the users using ad blocking Other few websites like Friendster and Myspace could not make softwares which blocks ads and hence users do not click on a mark in the social networking world. Hence, people were stuck them. The company, in March 2016, announced that it reached 2 to Facebook Million active advertisers. One of the reasons for the growing popularity of the website was The privacy level that Facebook uses for its users is very high. that it was easy and simple to use. From “thefacebook” to just They make sure that the user is able to display what they want “Facebook”, the team continues to improve the website and to and to whom they want to display it to. It is nearly impossible for make sure that the service is still easy to use. The team has anyone to hack an account not owned by them. This feature of maintained an interface through which one can easily find security and privacy makes its users feel safe as they can share friends, follow celebrities, chat and now even call. The social whatever they want with whomsoever they want. website is also known of having a balance of interest between its According to a study conducted in 2013, of all users who quit the customers, employees and shareholders. Facebook has always website, 48% were concerned with privacy. Since then, the team been under the control of Mark Zuckerberg and has always is working on building a stronger and an unhackable website. given first preference to build the long term vision rather than To make Facebook a better place and in order to run the capitalizing on short term financial rewards. management more smoothly, Mark Zuckerberg has often Facebook also launched its app called “Facebook Messenger” consulted some of the world's best entrepreneurs like Warren on Aug 9, 2011 for iOS and Android and was available for Buffet and Steve Jobs. BlackBerry OS after the update on Oct 11 of the same year. As on August 26, 2008, Facebook had reached 100 million users but by March 31, 2016, it now has more than 1.65 billion monthly active users. The website once began just for the students of a college, now rules the world in terms of social networking. The number of profiles, pages, feeds, shares surpasses all numbers on any other social networking site including the dating websites. All it took one was one small idea to build an empire so large that any person you meet either has an account on Facebook or has at least heard of it for it being one of the most impressive story of innovations and growth. SPOTLIGHT

ENTREPRENEURSHIP CHANGING TASTE OF BUSINESS WORLD PAVITHRA VEL - 3 PGDM A “ In the period of globalization in which we are living, it is loaded with circumstances and difficulties. It is inescapable to stay away from danger moreover. This time has given us numerous alluring and transformational pioneers to business arena .These days numerous youths are selecting to make their own endeavours. ” GOVERNMENT'S INITIATIVES CHANGING TRENDS OF ENTREPRENEURSHIP PM Modi's drive of STARTUP INDIA will be a boon and a Individuals are presently prepared to infiltrate into even minute turnaround technique for business visionaries. India's issues and changing them into Business Avenue. These days demographic profit is an incredible activity for this idea to serving Morning breakfast is like turning into an industry, it is happen. Government is likewise intrigued as it will thoroughly incredible for the individuals who missed their morning change the idea of business. Indeed, even the meriting breakfast. A small entrepreneur from Ahmadabad has started a individuals want to lead an association for other individuals. business of serving 'COOL SALADS'. They serve plates of They can compose their prosperity all alone. mixed greens to family units and workplace Ideas are getting to Business enterprise never addresses the individual's ability, be more extensive and advancement has no restrictions. capabilities or degree. It is an exclusive exemplification ability Business people are searching for moment boulevards to and how an individual thinks out about the container. The investigate unexploited parkways. The idea of business greatest test India is confronting is that Indian culture need enterprise is not new but rather technological improvements hazard disinclined things. Their moderate methodology is not have changed it into new measurements. permitting adolescents to choose enterprise. Conventional speculation is one of the greatest confinements. In any case, now activities by different B-Schools and government have offered some reprieve to this idea. Easy finance to start up's is making youth more slanted towards business person alternatives. As they additionally realize that if they have capability, they will get job any day, however going for start-up is one of the classic way as it needs more battle and tolerance. SPOTLIGHT

TEAM MANAGEMENT PREET POMAL - 3 PGDM B I will share with you all some of the aspects of team management express themselves. 5. Do not be afraid of disputes – Disputes and how beneficial it is in our lives. We all are today working on lead to growth in a team. some assignments, research, case studies, etc that are given by A manager of a good effective team must also be wary of the our respective subject teacher. But have you all noticed what the following unwanted characteristics of teams: 1. Avoid group common thing in all this is..?? Well the Groups obviously!! We all pressure – Try to minimize group pressure and dominance of work in a team. Now you must have felt that if each member of certain members. Group pressure effects free thought and your team works and put in all his efforts just like you do then we expression subduing great possible ideas. 2. Do not let one can surely say that your team can do wonders or for instance we member take control over a team. 3. Politics should be avoided – can say can help scoring well in CIA's again that is also like sort Do not enable politics between team members. Compromises of wonder for us anyway. This helps us in brainstorming on better made using political power harm the team's goals and ideas and creativity. Hence team management is prerequisite effectiveness as they might not be the optimum outcome of a for any people working out there at any sort of workplace or be it team. 4. Keep the original goals of the team at the centre – Many a group study or be it anything. Work can be easily divided and teams naturally shift the centre of attention to other issues and the burden gets reduced thereby keeping fast pace on any sort goals. 5. Avoid group think – Group think is one of the most of projects we handle. Likewise it is in the case of people working dangerous characteristics of teams and should be avoided at all in an organization. costs. Group think usually leads to unwanted solutions and can The seamless organization, the learning organization, the severely harm an organization. Utilizing the tools mentioned reengineered, world-class, virtual, total quality organization or above will help create synergy in a team as a result of mutual the classroom team for research: We are bombarded by terms fertilization of ideas. This process is as intuitive as it might be that attempt to define the organization of the future. We know the analytical. goal. We want an organization that delights our customers, There's way lot more in this topic which will be never ending sort causes continuous improvement in products and services, of process but in the end we can conclude my dear Christites minimizes cycle time, lowers costs and improves creativity and that team will be a part of every organization or at any workplace productivity. But what is the core practice in daily life in such an or wherever you go. We have to learn how to adapt with our team organization? How does it affect the individual and cause the mates or if you are a manager at some place then you can know manager and employee to behave in a different way? How does how to handle bunch of people. In order to actually implement the individual have to change? What are the principles and skills this process in our lives, we have to assume that people come that guide individual behaviour? In the end, it is the dynamic from anywhere be it any part of country or world, they are human work team that emerges as the heart of an organization. This is beings, we all are human beings in fact so we should mix up with the core, the central element, of the high performance work people, taking it all in - the diversity that people bring among place. Teams have the potential of exponentially empowering an themselves, and at least if thinking somewhat out of the box, we organization as every member completes the other and in turn get to know a lot more about new culture and that is what we call creates synergy. Creating and managing effective teams is a a LIFE. It is like we can learn way more from other people than challenge worth taking on as the benefits of synergy are a great we think, and we really do thereby making new possibilities and reward. innovation to work, to our life and to ourselves. Again the best team needs a perfect mentor or leader or can say manager in organization who not only can guide his team but also coordinate the things carried out by the members thereby giving overall support to the fellow team mates. In order to create and manage effective teams, a manager must work to enable the advantages of a team to bloom. A manager of a good effective team must use the following characteristics to most benefit the organization: 1. Use the differential knowledge of team members – The sum of knowledge in a team is obviously greater than of any individual. Moreover, differential knowledge creates that sought after synergy. 2. Enable diversity of opinion and approach – Different team members have accumulated different experience and to solving problems. Use that resource in order to address issues in a variety of ways. 3. Acceptance and commitment – Being a part of a process or team creates acceptance and commitment to the team and to its goals. Encourage the team to share and make use of every team member in order to create that commitment. 4. Offer team members a stage to show intellectual abilities – Team members will flourish if given the opportunity to SPOTLIGHT

CHINESE SLOWDOWN IN WORLD MARKET SAURABH SARKAR - 3 PGDM A Nearly after three decades of double-digit growth, China is 2. Housing Sector Slowdown decelerating as it is rebalancing its economy from export-driven 3. Steel Sector to less-volatile domestic consumption driven economy. China's 4. Bad Debt growth until now was driven largely by heavy investments in public infrastructure and manufacturing. Surely this helped China develop, the nature of the industries is also at the heart of As growth continues to decline in the world's second-largest its current decline. As a result of the economic slowdown, the economy, China is at a crossway. First, it has to prop up the Chinese economic model, traditionally based on manufacturing, economy the old-fashioned way and also thrust forward investments and exports, is presently shifting towards a model structural reforms to lead the country into growth. The policy focused on domestic consumption, services and innovation. changes the government is making should be used to initiate more foreign business into China so it can grow over time. China's share in global GDP tripled from 3.6% in 2000 to 15.5% in 2015 as it grew at a breakneck speed for three decades. In the One of the major action taken by the Chinese Government to same period India's share in global GDP also doubled from 1.4% improve the economic situation in China is the devaluing the to still low 3%.Having been the locomotive for global growth Yuan. Also it's giving manufacturing incentives so domestic succeeding the financial crisis in 2008, Chinese growth has now producers are capable to stay afloat and manufacture products slowed and its economy is looking gradually delicate. The latest at a lower cost. GDP figures came in at just under 7%, significantly down from the astounding annual rate of more than 9% per year between The continuing economic crisis in China is largely inclined by 1990 and 2010. data released about the country's economy. The impact of a poor Chinese economy has wide-reaching effects well beyond Exports from China have weakened, and exports to China must Chinese stocks and indices. counter the depreciating Yuan. China's slowdown has downed global commodity prices, poorly affecting big exporting There are mixed opinions on whether China will be on the road to countries such as Brazil and Russia. economic regaining anytime soon. With the range of incentives that the Chinese government is achieving, they are making it an There are several reasons why China's economic growth is attractive exporting partner. China can succeed, but only stalling:- through enormous and potentially destabilizing modification of 1. Global Slowdown Manufacturing its political and economic institutions. We should not be amazed by even lower growth rates in the future. SPOTLIGHT

THINKING OF START UP: A LOT TO LEARN FROM THESE MISTAKES NIKITA AGGARWAL - 3 PGDM B India is changing and so are the aspirations of 1.2 million they cannot be used by people unfamiliar with technology. Let people. India once regarded as a third world party economy, is us take into account an online start up that connects senior today the hot investment destination .Start-ups have become citizens together. The idea sounds interesting but is it practical the recent trends. An exponential number of fresh graduates for a country like India where most of senior citizens are are opening up their start-ups or joining existing start-ups. unfamiliar with technology. The answer is clearly no. Opening up a start-up and earning the tag of CEO, COO Immediate tags of CEO and COO becomes too enticing for sounds interesting but the sad part is that founders typically young college graduates that they forget about the long term sacrifice their career, earnings, personal life and professional decisions .They just come up with some random idea and aspirations to create something that in an overwhelming starts moving fast unless someone beats them up . Angel majority of cases fails. Yes, the statics says that nine out of ten Investors add a cherry to their short term vision. This makes start-ups fail every year. them forget to invest in honing their skills or gaining When looked deeply into the reason for failure of start-ups one perspective about the sector they wish to dive in .These young big reason is forcing of Western models into Indian markets. CEO's often fail to ask themselves the real meaning of Attracted by success of business models in western countries, innovation. For them every new idea is simply called an Indian founders try to impose the same models in Indian innovation. market. They fail to understand that success of a particular Level of education and experience also adds to the failure of model in western model in western market does not guarantee Indian start-ups. Why are western start-ups more successful success in Indian market. For an example let us consider a than Indian Start-ups? The answer is simply practical food delivery or an online grocery shop which can deliver you in knowledge. Everyone is aware that Indian education system minimum time. Now consider the mind set up of Indian society, lacks practical approach and most of the youngsters directly where majority of population still like handpicked stuff instead jump into entrepreneurship without having any knowledge of of buying stuff online and even if they consider online shopping practical aspects of real world. Also all the founders of start-ups then the only names that come to their minds are Flipkart, are not well versed with technology and the differences in tech Snapdeal or Amazon.com. team and founder's team lead to deviation from main aim. Another reason for failure of start-ups is lack of market for the When we have seen the failure of start-ups on massive scale products or services offered by start-ups. Most of the founders why has not any lesson still been learnt from these failures? It come up with products which cater to only a small section of is high time now that proper market surveys are done for the society and as a result there comes a time when there is no Indian markets and youngsters gain some practical knowledge market for the product or services offered by start-ups. To give without jumping into markets directly on the basis of theoretical an example the one famous start up that comes to mind is knowledge. Also we already have enough number of start-ups 'cardkhanna': A famous start up founded by students of Delhi to focus on online retailing, analytics and social media. Why University. This start up provides with handmade cards for all not come up with some more innovations and high technology occasions, but when it comes to evaluating the market demand start-ups that focus on defence, aerospace & high end for handmade cards only 20% of consumer order handmade manufacturing industries. cards out of the total market demand expected. Such false expectations results in huge losses for start-ups. Another problem on the similar lines is wrong product for wrong markets. Since most of the start-ups works on online models, SPOTLIGHT

FROM WALKMAN TO iPOD SHELIN SHAJI - 3 PGDM A A short history of the songs in our pockets – and the way late-comer Apple came to dominate the business of portable music. those pieces were firmly set up: both mp3s and broadband were at last generally accessible. The original iPod for Macintosh retailed at $399, had 5GB of limit, and could save to 1,000 tunes. It gloated a natural interface plan and was, for now is the right time, lightweight. In any case, the estimation of the gadget was solidified by its consistency with the iTunes music administration programming. Notwithstanding being accessible just for Mac clients, the iPod was the quickest offering mp3 player to ever hit the business sector. In April 2003, Apple reported the iTunes Music Store, an online retail centre where clients could search and buy music for 99 pennies for In 1978, engineers at Sony successfully introduced a compact each melody. By 2005, iTunes' library had playback device with light-weight headphones to make the developed to 1.5 million melodies. In spite of the fact that Apple paradigm for a product that would become a worldwide hit. In would make meagre benefit from offering tunes at 99 pennies for 1979, the 'Walkman' was introduced within the Japanese every download (it had sold about 8 billion melodies before the market, selling out its complete stock of 30,000 units within the end of 2009 however, with Apple's ten percent bonus, that first three months. exclusive means $800 million in income - before representing Sony kept pace with its rivals. For a decade after its launch, the expense of running the store; paltry when contrasted with $22 billion picked up in iPod deals around then, the iTunes store Sony's Walkman retained a 50% market share in the U.S in a gave the iPod authenticity in a universe of shady mp3 space teaming with competitors, even as it earned a price availability. premium of approximately $20 over rival offers. Few would deny that the iPod is an extraordinary item, Jump ahead to the late 1990s, when the sun had set on surpassing whatever other mp3 player advertising. Be that as it cassettes as the favoured music delivery format in favour of compact discs and, for the technologically savvy, digital mp3 may, is it six times better? Apple was, all things considered, three years late. However, maybe this rationale ought to be flipped: files. But electronic giants around the globe were betting that the perhaps everyone was three years too early. CD would soon follow the cassette into extinction. Which mp3 player would get there first and become the next 'Walkman'? As we'll see again on account of the iPhone, Jobs had a tendency to be late to everything in light of the fact that he The MP3 player market did eventually centred on a dominant needed everything to be prepared for him. Considering getting product, Apple's iPod. But the iPod, launched in late 2001-How can we understand the iPod's success in spite its delayed entry? innovation waves in 2008, he said, \"Things happen decently gradually, you know. They do. These influxes of innovation, you iPod Wins...Three Years Later can see them path before they happen, and you simply need to Apple held up, and after that held up some more- - until it at long pick carefully which ones you're going to surf. On the off chance last made its turn, setting up the last two pieces to make a that you pick indiscreetly, and then you can squander a great triumphant advancement: an appealing, straightforward gadget deal of vitality, however in the event that you pick astutely, it upheld by brilliant programming. Steve Jobs realized that, all really unfurls decently gradually. It takes years.\" Jobs' control alone, the mp3 player was pointless. He comprehended that, all paid off. Rather than holding up at the red light with competitors - together for the gadget to have esteem; other co-innovators in squandering valuable assets and time - Apple steered right on the mp3 player community initially should have been adjusted. through a green light towards victory, getting to be, as denoted What's more, in October of 2001, when Apple declared the iPod, by the Economist, \"the Walkman of the mid-21st century.\" SPOTLIGHT

THE SYRIAN CRISIS THARUN MANIKANDAN.B - 3 PGDM B The Syrian crisis provoked on March 15, 2011. The main which spends billions of dollar, provides weapons, military reasons were lack of employment, lack of political freedom and advisers and oil transfers. It also deployed several combat state repression under President Bashar Al-Assad who troops. succeeded his father, Hafez in 2000.Pro-democracy Syria acts as a point of transmission of Iran weapons to demonstration broke out in Deraa's southern city in 2011.There Lebanese Shia Islamist movement Hezbollah and Mr Assad is were wide spread protests for president's resignation as the Iran's closest ally. The Lebanese Shia Islamist movement government used deadly force to crush the dissent. Hezbollah has sent profuse amount of fighters for support. The dispute strengthened and the supporters of opposition party The view of US on this issue is that the President Assad is started to use arms for defending. They also used arms to dispel responsible for the conflict and US provided only limited military security forces. “Foreign-backed terrorism” will be crushed to assistance. This is because US was afraid that supply of restore state control. This was the vow given by Mr Assad. advanced military assistance may pave way for jihadists to rule As hundreds of protestors were formed to fight against the country. US conducted air strikes in Syria after September government for control of country, the violence spread and the 2014 but avoided attacking government people. country fell downwards into civil war. It literally became a battle Iran is a major provider of military and financial assistance to between people who are for and people who are against Mr rebels and Turkey is another supporter of Rebels. Turkey Assad. approached to limit the support of U.S for the Kurdish forces who The main reason which led to the intensification of the crisis was are battling against IS people in northern Syria. This is because the involvement of major and world powers such as Iran, Iraq, Kurdish forces were accused of being affiliated to Turkish Russia, Saudi Arabia and the United States. These countries Kurdistan Worker's party (PKK) which is banned. supported the government and protestors with their military, A total of 250000 people have lost their lives in the past five political and financial power. This contributed to the increase of years, the report of UN says. UN stopped updating details on dispute in Syria. August 2015. Several surveys convey that a total of 470000 Encouragement of sectarianism was undergone by external people have been killed. 4.8 million And more people fled Syria factors and were accused of this. This provoked partition especially women and children. They went as refugees to between country's Sunni majority and President's Shia Alawite neighbouring countries such as Lebanon, Jordan and Turkey. A sect. This led to chaos between these partitioned sectors. As a total of 10 percentage of the refugees sought safety in Europe. result of chaos many people lost their lives, hardened positions Around 6.5 million people are displaced inside Syria. and few hopes for political statement. Jihadist groups were also In order to help 13.5 million people in Syria UN says that it need added. The rise of this group added another dimension to war. $3.2 billion. More than 70 percentage of the people in Syria are This is the formation of Islamic State (IS). This IS controls North unable to access basic need such as water, food. There are and East Syria. It battles Rebel brigades, Government forces, more than 2 million children who are out of school. Kurdish groups on ground and air strikes from Russia. President Peace talks took place in 2014 which was known to be Geneva Assad's survival is critical for Russia in order to maintain its II. This broke down after two rounds. In January 2016 “proximity interest in Syria. Russia launched air campaign in order to talks” took place between representatives of the opposition “stabilise” the government on September 2015. parties persuaded by US and Russia in Geneva. After six months, the war turned in favour of its ally. The Russian The first round broke down and this is because of government forces were ordered to withdraw from the “main part” of Russia forces. The talks resumed in March 2016 which came up with by President Vladimir Putin. partial, “cessation of hostilities”. The violence will fall up to 90 Alawite government were strengthened by Shia power Iran percent. This was said by Washington. SPOTLIGHT

BEYOND CUSTOMER SATISFACTION TO CUSTOMER DELIGHT NEELAKSHI JHADAV - 3 PGDM A “ “Provide an experience that is useful, usable, desirable and differentiated and you will create demand for your brand and delight for your customers.” – David Armano Apple. Inc, Google, Amazon are one of those global ” Customer Satisfaction is one of the clearest predictors of a company's success since many ages but Customer Delight is companies who have caught the right nerve and grabbed the something when you create a wow factor. Thus, this wow- opportunity in delivering the best of customer experience the factor becomes the marketing tool for the business. right way. Going by the Apple's words- “We are at our best There is a fine line between customer satisfaction and when we deliver enriching experiences to our customers”. This customer delight i.e. providing mere satisfaction in the former clearly shows that client happiness is the ultimate game winner case and providing satisfaction while going that extra mile to in the business race. provide the added value to the customer in the latter case. It is Talking about the business in India, one of the core values of about exceeding the expectations of a customer in the positive Infosys is Customer Delight. Infosys believes in keeping its way. Customer Delight has become the prime business clients happy and fulfilling client's purpose in the best possible strategy to sustain and grow in the phase of globalization. Or way. Rex Carter, Senior Vice President, CIO, Hitachi Data one can put it in this way, delighting a customer has become a Systems once told in an interview – “The core strength of 'common ingredient' for the success of the company. Infosys is their dedication to quality and customer satisfaction”. The company should emphasize on certain factors to deliver In the words of Maya Angelou, “People will forget what you customer delight and establish goodwill in the market- said, people will forget what you did, but people will never Personalize your product/ service. forget how you made them feel.” This speaks the volume in itself that if you deliver happiness to customers, they tend to Do something pleasantly unexpected for your customer. stay longer with the business and become brand loyal. Add value to the relationship with customers. Discover the 'Wow Factor' and deliver. The two golden rules to delight a customer are – Follow Up. 1) Do everything to make your customer happy and Time plays an imperative role in delivering high level of satiated. happiness and satisfaction to customers. In business, there is no room to miss an opportunity to serve your customers faster 2) Customers are the King, everything comes after them. and better than your competitors. A customer is really delighted when he receives not only what he wants but also what he needs. SPOTLIGHT

NEXT GENERATION CEO'S: PREPARING YOUNG WORKERS TO LEAD JONAKI CHOWDHURY - 3 PGDM B “The Millennials are not set out to be leaders, they are set out to workplaces, with many expecting to climb the ranks quickly. It make a difference”, this is very rightly said by F.Scott Fitzgerald is important to take advantage of their problem-solving skills, in his book 'The Millennials'. As the millennial generation (also curiosity and confidence. commonly known as Gen-Y and includes births from 1982 – Encourage their growth 2000) grows in the workforce and baby boomers retire, Spend time learning about how younger workers picture their managers and human resources professionals will need to careers in the future. Then, give them tasks to help them move develop new engagement models to take into account the in that direction. generational differences between baby boomers and millennial. Allow them to lead I recently came across a study from a staffing firm Robert Half Try giving younger employees opportunities to show their which revealed that 85% of executives are confident that ability to lead by putting them in charge of small initiatives. younger professionals have the ability to become future When doing so, you can give them guidance, but be sure to let leaders of their organisations. Only 13% of those surveyed them set their own strategies. said that workers born between 1978 and 1999 do not possess Give them mentors any management potential. To ensure that they are properly Besides giving them people they can learn from and confide in, preparing younger workers to take the reins one day, many mentors can help young professionals perfect their soft organisations are offering a wealth of professional skills such as communication and collaboration. development resources. Specifically, 60% of employers offer Communicate often onsite training; 57% provide opportunities to attend conferences, seminars and webinars; and 55% facilitate Younger workers prefer face-to-face interactions with their mentoring programs. Paul McDonald, senior executive bosses. To help guide these employees toward becoming director at Robert Half, said young employees are a highly future leaders, spend time communicating with them in person. educated, ambitious group of workers who gravitate toward In addition to in-person interaction, young employees also jobs that provide meaningful personal and professional want frequent feedback from their managers, McDonald said. growth”. To retain these employees and develop them into “Even the best performers benefit from consistent coaching,\" next-generation leaders, companies must provide plenty of he said. The study was based on surveys of more than 2,200 training and stretch assignments as well as clear paths for chief financial officers from companies in more than 20 of the career advancement,\" McDonald said in a statement. largest U.S. metropolitan areas. To help employers, Robert Half offers several tips to make sure A lot of companies do not succeed over time. What do they do their organizations are providing the proper level of fundamentally wrong? They usually miss the future. Jake development opportunities that younger workers desire: Nickell, CEO of Threadless says, “I try not to make decisions Understand what drives them that I'm not excited about.” This is apt for the next generation CEOs who are instinctive and will be distinctive in future. Young professionals want to work in inclusive and transparent SPOTLIGHT

PANAMA PAPERS SRUTHI SARAH- 3 PGDM A In this era of scams and scandals, there was a massive The transfer of wealth upheaval brought about by a particular case. The biggest data The hidden places leak of this century- The “Panama Papers,” a term coined to Mossack Fonseca data displayed to the Guardian relates to define an unprecedented leak of 11.5 million confidential files more than 200,000 companies for which the firm acted as an from the database of the world's fourth biggest offshore law enlisted agent. Often used religiously to anonymously hold firms, Mossack Fonseca. The leaked documents contained an property and bank accounts, these companies were registered enormous amount of data regarding financial and attorney in a range of tax havens. British Virgin Islands is said to have client information for more than 214,488 offshore entities. The more than 1000 companies. records were obtained from an anonymous source by a German based newspaper, Süddeutsche Zeitung (SZ) which in turn was handed over to the International Consortium of The middlemen Instead of dealing directly with company Investigative Journalists (ICIJ).The ICIJ passed on the details owners, Mossack Fonseca acted independently on to the news and media networks including the Guardian and instructions from accountants, intermediaries, banks, lawyers the BBC. and trust companies. The documents revealed a variety of methods in which the rich The hidden proprietors could capitalize on the secretive offshore tax regimes.12 This is to answer the question regarding how the money that national leaders, amongst 143 politicians and their families flows offshore is received. Generally real owners usually hide and close associates were ousted for using offshore tax behind nominees, people who have no actual control and no havens. The highlight of this scandal was the two billion dollar asset holdings in the company but provide a signature. A small trail leading to Vladimir Putin. The tale goes that, Vladimir specimen of about 13,000 owners from all over the world was Putin's best friend Sergei Roldugin was at the epicentre of recently complied. scheme in which money from Russian state banks were How much data was leaked? hidden offshore. Some of the money has been rumoured to have ended up in a ski resort where Putin's daughter was A lot of data was leaked. The leak is one of the largest ever – married in 2013. larger than the US diplomatic cables showcased by Wiki Leaks in 2010, and the secret intelligence reports handed over to The other national leaders who were named in the this scandal journalists by Edward Snowden in 2013. There were a million were Nawaz Sherrif, Pakistan's prime minister; Ayad Allawi, documents and a multitude of information that was drawn from ex-interim prime minister and former vice-president of Iraq , Mossack Fonseca's internal database. It was recorded as the Petro Poroshenko, the president of Ukraine and the prime biggest leak in history. minister of Iceland. An offshore investment fund run by the father of British Prime Minister David Cameron circumvented paying taxes in Britain by hiring a small group of Bahamas What did Mossack Fonseca have to say about the leak? residents to sign its paperwork. The firm refused to discuss specific cases of alleged What is Mossack Fonseca? wrongdoing, citing client confidentiality. It vehemently defends It is a Panama-based law firm whose services include its conduct. Mossack Fonseca said it complied with anti- amalgamating companies into offshore jurisdictions such as money-laundering laws and carried out background checks on the British Virgin Islands. It superintends offshore firms for a all its clients. It said that it regretted any misapplication of its yearly fee. Other services it offers include wealth services and would try to prevent the same. The firm stated that management. it could not be blamed for the failings of the intermediaries which included banks, law firms and accountants. SPOTLIGHT

SATYAM SCAM AND ITS IMPACT ON BUSINESS AYUSHI KULSHRESTHA- 3 PGDM A Satyam Computer Services Limited was consolidated at first abnormality all alone and was captured for the same following as a Private Limited organization. It gave programming and 2 days. innovation related consultancy administrations to other huge The legislature swung vigorously and attempted to rescue partnerships. what was left of the extremely troublesome circumstance. At first it was fused as a private Limited co. The organization Deepak Parekh, Chairman of HDFC was designated as was advanced by B Rama Raju and B.Ramalinga Raju. Later administrator of Satyam's board. Kiran of NASSCOM and the organization was changed over into Public Limited C.Achuthan of SEBI were different individuals who attempted Company. Amid the year 2 workplaces were setup in USA and to find in Satyam's matter. Japan. It was an IT organization situated in Hyderabad. Prior After a year Satyam was sold and numerous organizations the organization was recorded in National Stock Exchange indicate enthusiasm for getting it on the value which was and Bombay Stock Exchange. It offered a scope of 1/tenth of the cost at its high. administrations, including programming improvement, At last tech Mahindra could assume control over the Satyam. framework administration bundled programming joining and building outline administrations. The organization has set up two programming Technology Parks, one at Mayfair Centre, Effect of Satyam outrage on Business Secunderabad and other at Qutuballapur of Ranga Reddy The Satyam outrage has shaken corporate India, and harmed Dist. of A.P. The organization likewise built up a product its notoriety with financial specialists, household and outside. Development focus in Bangalore. Satyam has vital innovation The outcomes of the Satyam outrage will depend incompletely and advertising organizations together with more than 50 on arrangement reactions. The press is calling attention to that organizations. Aside from Hyderabad, it has advancement numerous Indian organizations could have comparable focuses in India at Bangalore, Chennai, Pune, Mumbai, shrouded issues. In the event that speculators get suspicious, Nagpur, and Delhi. this could seriously harm the corporate division and the Satyam trick was one of the India's greatest corporate fakes nation's odds of returning to 9% development. My figure is that where Satyam PC administrations restricted made misfortune Satyam itself won't survive. It as of now has liquidity issues. It the financial specialists of around 14162 crores. The has an expansive number of corporate clients, who are organization head, Ramalinga Raju and individuals from his secured to Satyam in the short run, yet who will each be family secured unlawful increases to the tune of about Rs.2743 searching for an option: they can't bear to depend on a firm that crore by different traps. The extortion was conferred by may not survive. The main leave methodology here is most expanding the income of the organization through false deals likely a buyout, which will permit an entire substitution of solicitations and demonstrating relating picks up by making Satyam's defamed senior administration. bank proclamations with the consistence of statutory and The administration could assume a part by encouraging some inward reviewers of the organization. The yearly budgetary kind of securing of Satyam so that the organization's clients explanations of the organization with swelled income were and administration frameworks survive, yet its fizzled distributed for quite a while and this prompt higher cost of scrip monetary frameworks and senior administration are in the market. The blameless financial specialists were tricked supplanted. Truth be told, the most recent news is that the to put resources into the organization. administration has superseded the between time administration and will supervise constituting another It took about 2 years and more than 100 specialists to evaluate administration and directorate. The administration's primary the aggregate loss of the trick executed by Raju. The last figure approach reaction ought to be to fortify exposure and was shed under Rs.8000 crore. Satyam had attempted to observing necessities, particularly ensuring that reviewing purchase two distinctive foundation organization keep running hone never again falls flat as conspicuously and marvellously by his children incorporating Maytas in December 2008. The as it did for this situation. exertion fizzled and in January 2009 Raju admitted to SPOTLIGHT