Thus, the loss of market value of sub-prime securities just since early 2007 totals around $380 billion (IMF, OECD 2008).

IIPM Ranked No. 1 B-School In Global Exposre - Zee...

In an environment of electronically linked and globalised markets and rapid innovations, risk and uncertainty assume specific meanings and weight.

The IMF estimates the loss in the US linked to sub-prime mortgages at $144 billion. Because it is also the largest, investors from all over the world are likely to buy US instruments and thereby to see losses. Indeed, the US spillover effects on other markets are significant. According to the IMF, all economies have experienced spillover effects from US subprime housing market: it finds that the European Union as a whole lost $123 billion, Canada $7 billion, Japan lost about $10 billion, and other Asian countries combined lost about $13 billion. This is evidence of the global circulation of mortgage backed-securities. Within the EU, the country whose financial system is most intertwined with the US, the United Kingdom, will see a sub-prime mortgage linked loss of $40 billion, followed by Switzerland’s loss of $23 billion. Thus, the loss of market value of sub-prime securities just since early 2007 totals around $380 billion (IMF, OECD 2008).

As for the second dynamic, network effects, it concerns the impact of complex financial instruments meant to reduce risk on electronically linked financial markets. The electronic linking of markets (both nationally and globally), the accelerated rise in innovations enabled by both financial economics and digitisation, and the sharp growth in the use of a particular type of financial instrument, the derivative, have come together in ways that have launched a new phase in financial markets. The diversification and dominance of derivatives has raised the complexity of operations and has further facilitated the linking of different financial markets. In an environment of electronically linked and globalised markets and rapid innovations, risk and uncertainty assume specific meanings and weight. This, in turn, partly explains why derivatives have become the most widely used financial instrument.


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Source : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist).


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I know nothing of the details of their deaths, or whether they blamed me as they perished.

IIPM Ranked No. 1 B-School In Global Exposre - Zee...

Our joy was short-lived. Another agent who had allowed us to use his house as a meeting spot was, in fact, a double agent working for the North. I received instructions from the government to return home the very next day. But I knew very well I couldn’t; I would be killed as a traitor. I anguished over what my failure to appear would mean for my family back in Pyongyang. It’s bad enough for a soldier or a student to defect. But I knew intimate details of the ruling family’s inner circles. Surely they would view my betrayal as a personal insult.

I never returned to North Korea, and I never saw my family again. A few years later, I heard from a well-placed South Korean minister that my family had been sent to a gulag and murdered, the innocent victims of my treasonous crime. To this day, I know nothing of the details of their deaths, or whether they blamed me as they perished.

I ache when I imagine what Kim Jong Il did to my family. So many times, I’ve imagined killing him and then killing myself. Countless days and nights I have pounded my chest with guilt and grief, unable to forgive myself for the ghastly fate that I have brought my beloved wife – my lifelong companion—our daughters and son, their spouses, and even our dear grandchildren.

But I am willing to let go of my painful grievance against Kim Jong Il. My only wish is that he opens North Korea’s doors and lets the hungry, tired people enjoy the kind of freedom and abundance that South Koreans, Americans, and so many others do. Until then, I will let the rest of the world see what I’ve seen: a young, innocent boy who turned into a monster, and a country with so much promise transformed into a concentration camp.


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Source : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist).


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'This is one of Big B's best performances'IIPM to come up at Rajarhat
IIPM awards four Bengali novelists

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Will this Singh be King again?

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A comeback may not be difficult for this resilient politician who knows when to hide and when to rise

Hardly any accounts of Rajas of Punjab fleeing battleground can be found if the pages of history books are turned. So, when the scion of royal house of Patiala, Captain Amarinder Singh fled to London recently to escape a possible custodial interrogation, the news surprised many. But raised eyebrows subsided soon. Singh, after all, is a modern day leader in a country where corrupt ministers are deified and murderers manage to enter the cabinet.

As expected, his ardent supporters and his sworn opponents give conflicting views on his political future. “Capt. Amarinder Singh is a spent force. His dream of returning to power will not be fulfilled. He is nowhere on our radar,” says Sukhbir Singh Badal, the Shiromani Akali Dal Chief. “Congress as well as Capt. Amarinder Singh would gain sympathy and it would have bearing on the parliamentary elections too," counters Ajit Inder Singh Mofar, the Congress MLA from Sardulgarh.

Singh was recently expelled from the Punjab assembly for favouring a private builder in a multi-million-rupee land deal in Amritsar. The vigilance bureau was directed to register a case by the assembly. There were speculations that the vigilance officials could arrest and question him regarding the deal, which led to Singh fleeing for London. The Punjab and Haryana High Court, however has stalled his custodial interrogation. Days may be difficult for Singh today, but for those who have observed Punjab politics, the current scenario may be nothing more than the wheel turning full circle. When Singh was Punjab's Chief Minister (2002-07), he had ordered the arrest of present CM Parkash Singh Badal.

If the allegations of corruption are at all true, Singh would need a deeper analysis. His ancestors and the wealth that he commands suffice no apparent reasons for him to risk his career for bundles of ‘hush money’. Scion of the royal house of Patiala, he is the son of late Maharaja Yadavindra Singh and grandson of late Maharaja Bhupendra Singh. As far his persona goes, he seems to have taken more after his grandfather, known for his extravagance and many wives, rather than his more sober father. However, he could have managed to remain extravagant even if he spent within the wealth he was born with for his entire life.

Singh was once a minister with the Akali Dal, but he quit the party and walked into the Congress when the Akali leadership denied him the ticket for parliamentary polls. Singh is known to have a resilient past, so it may not be surprising if he bounces back with a bang as he has done that in the past; as his supporters have predicted. Only though upon his return to his homeland.

footsteps

l Born on March 11, 1942 in Patiala
l Began his career in the Army
l Was introduced to Congress by
Rajiv Gandhi
l Joined the Akali Dal in 1984
l Returned to Congress and was Punjab''s CM from 2002 to 2007

Nirupama Dutt


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An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist).


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Customers are best when they’re stuck!

IIPM Ranked No. 1 B-School In Global Exposre - Zee...

Write back to Jack & Suzy Welch at editor@businessandeconomy.org

Que: In your opinion, what big business imperative doesn’t get enough attention? (Pedro Cezar Dantas Neto, Brazil) Ans: Stickiness. Of all the business ideas in the “debate-o-sphere” – and stickiness has been out there for years now, known by many names including “customer retention” and “loyalty” – it still doesn’t obsess managers nearly as much as it should. Because stickiness can change the game: It transforms business from a transaction-based model to a more lasting, mutually beneficial one, in which companies improve their own revenues and margins by improving their customers’ competitiveness. Indeed, the only trouble is it can be so hard to create. But still, allow us to suggest a few proven ways to go at it.

The first, perhaps not surprisingly, is good old-fashioned service, which needs to stand out. Take Mitchell’s, the Connecticut-based clothing chain. It’s managed to outperform its competition in the tough suburban New York market by treating its customers not only like royalty, but also as unique individuals, offering personal productivity “enhancements” with conveniences such as same-day tailoring and home delivery. On a much larger scale, The Four Seasons also wins hearts and wallets in the crowded luxury hotel market by invariably delivering high-quality, seamless experiences. For manufacturing companies, customer service is critical, but another approach to stickiness requires moving from a product-focused business to a product-and-long-term-service business by guaranteeing productivity gains to customers. Now remember, most engineers want to build new machines; the faster and more powerful, the better. With this model, you’re asking your engineers to focus on continuous technology upgrades to meet commitments that got you the sale, and you’re betting they’re talented enough to design and deliver those upgrades in a way that can guarantee productivity increases over many years. That’s a big wager, but if you’re right, it’s a huge win for everyone at the table.

Another option open to manufacturing companies, particularly in commodity businesses, is to use your strong balance sheet to take a major outlay of capital off of a customer’s balance sheet. Specialty industrial gas companies win long-term contracts, for instance, by building their plants next door to customers’ factories, providing over-the-fence, competitively priced raw materials without hassles of hazardous delivery. Similarly, some plastic manufacturers build on-site silos for customers, essentially guaranteeing an ever-present, cost-competitive supply.

Almost all companies can create stickiness by sharing know-how. You can welcome customers into your R&D facilities with a “my lab is your lab” mind-set, share new designs for packaging or demonstrate exciting products coming down the road. If your expertise happens to be HR, you can train your customers’ managers in hiring, coaching, evaluation et al. Many companies that are advanced with lean Six Sigma, for instance, send their “Black Belts” into customer organisations to launch training programmes.

Finally, businesses can create stickiness by building user communities. Every year in cities around the world, for instance, SAP hosts conferences where customers can meet IT experts, software developers and – most importantly – each other, to share SAP best practices. These are not sales events per se, but you can be sure that attendees leave with a feeling of partnership with SAP that has to be a big part of the company’s steady share gains.

We’re not inventing gravity here: We know that in most companies, all or some of these approaches to stickiness have gotten lip service. But too often that’s all they get. The truth is that any one of these approaches involves a major culture and mind-set change, with a management commitment of time and money, and the acceptance of some level of risk. Basically, the organisation must come to see the world through the customers’ eyes. Otherwise, unlike gravity, stickiness just won’t happen.


Jack Welch & Suzy Welch


For more articles, Click on IIPM Article.
Source : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist).


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B-schooled in India, Placed Abroad (Print Version)
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1500-plus IIPM students placed across the country with 44 bagging international offers
IIPM set to beat economic slowdown
IIPM, GURGAON
IIPM - Admission Procedure
IIPM awards four Bengali novelists
The Hindu : Education Plus : Honour for IIPM
IIPM ranked No.1 B-School in India, Management News - By ...
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Moneycontrol >> News >> Press- News >> IIPM ranked No1 B-School in ...
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In the past, China taught India the importance of social investments and economic opening.

IIPM Ranked No. 1 B-School In Global Exposre - Zee...

The economic dividends of political reform don’t appear overnight, which skews the time line and confuses the cause.

China has built critical networks, such as power stations & transportation links, but since the mid-1990s Chinese leaders have wasted massive resources on urban skyscrapers that have no economic benefits. And the financial costs of these projects do not even begin to approach their opportunity costs – those investments in education and health China has failed to make. China constructed nearly 3,000 skyscrapers in Shanghai and added 30 million illiterate during the same decade is truly remarkable. The economic dividends of political reform don’t appear overnight, which skews the time line and confuses the cause. But by using nearly every metric, political liberalisation has spurred rather than stunted growth in China & India.

After a long hiatus, China’s leadership has rhetorically returned to a vision of the 1980s – that political reforms should be a priority. Rural China has begun to recover from the neglect of the 1990s, and rural income has grown the fastest since 1989. Consolidating these achievements will require a more substantial undoing of the illiberal policies of the 1990s. How India managed to emerge from its own long shadow of illiberalism offers some valuable lessons. In the past, China taught India the importance of social investments and economic opening. It is time for today’s China to take a page from India – and from the China of the 1980s – that political reforms are not antithetical to growth. They are the keys to a healthier and more sustainable foundation for the future.


For more articles, Click on IIPM Article.
Source : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist).


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B-schooled in India, Placed Abroad (Print Version)
IIPM in Financial times (Print Version)
IIPM makes business education truly global (Print Version)
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1500-plus IIPM students placed across the country with 44 bagging international offers
IIPM set to beat economic slowdown
IIPM, GURGAON
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The Hindu : Education Plus : Honour for IIPM
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Moneycontrol >> News >> Press- News >> IIPM ranked No1 B-School in ...
» IIPM ranked No1 B-School in India :: Education, Careers ...
The Hindu Business Line : IIPM placements hit a high of over 2000 jobs
Deccan Herald - IIPM ranked as top B-School in India
India eNews - IIPM Ranked No1 B-School in India
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domain-b.com : IIPM ranked ahead of IIMs
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Somnath Chatterjee ruffles parliamentary feathers and buys peace…

IIPM Ranked No. 1 B-School In Global Exposre - Zee...

A recognition that some said came rather late in the day to a man who has been a member of the Lok Sabha for over four decades.

But ever since Chatterjee was elected Speaker of the Lok Sabha in 2004, it has been a tumultuous Lok Sabha he has presided over. There were plenty of issues to raise ruckus over – from the Indo-US nuclear deal to the price rise, the opposition had enough of them to keep the house in disorderly conduct much to the displeasure of Chatterjee, who in 1996 was conferred with the Outstanding Parliamentarian Award, a recognition that some said came rather late in the day to a man who has been a member of the Lok Sabha for over four decades.

Chatterjee has been a Member of Lok Sabha since 1971 and was elected for the first time as an independent candidate supported by the CPI (M). Since then he has been elected nine times. He now represents the Bolpur parliamentary constituency. Only once did he taste defeat, worsted by Mamata Bannerjee in Jadavpur constituency in the 1984 general elections.

Chatterjee comes with a load of experience as a Parliamentarian but his tenure as the Speaker of the Fourteenth Lok Sabha has been marred by the feeling that he was partial to the ruling combine which the leftists were lending outside support.

footsteps of Chatterjee

l Birth: July 25, 1929 in Tezpur, Assam. Son of Nirmal Chandra Chatterjee Education: Mitra Institution school, (Kolkata), Presidency College, University of Kolkata and Cambridge University in UK

l Joined politics: In 1968 joined the CPM. 1971 became member of Lok Sabha. Re-elected ten times as MP


Sushil Kutty


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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist).


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B-schooled in India, Placed Abroad (Print Version)
IIPM in Financial times (Print Version)
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1500-plus IIPM students placed across the country with 44 bagging international offers
IIPM set to beat economic slowdown
IIPM, GURGAON
IIPM - Admission Procedure
IIPM awards four Bengali novelists
The Hindu : Education Plus : Honour for IIPM
IIPM ranked No.1 B-School in India, Management News - By ...
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Moneycontrol >> News >> Press- News >> IIPM ranked No1 B-School in ...
» IIPM ranked No1 B-School in India :: Education, Careers ...
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Deccan Herald - IIPM ranked as top B-School in India
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Tell that to Serbs,The obvious pointer is to the predicament being faced by Serbia’s labour,

IIPM Ranked No. 1 B-School In Global Exposre - Zee...

Collective bargaining? Duh...

Samuel Gompers once said about labour unions, “You can’t do it unless you organise.” The obvious pointer is to the predicament being faced by Serbia’s labour, which faces a lack of leadership that can indulge in ‘collective bargaining’. On one hand, minimum labour pay has been increased to €200 a month (much more than that in less developed nations; but much less than that in developed countries), but the general unemployment rate is pegged at 27%. Also, almost 12,000 labourers have already been harassed seriously by the evidently authoritative administration. Labourers suffer consistent humiliation and pernicious working environment throughout Serbia. When the world celebrates the labour class on May 1, Serbia’s administration rubs it in double during this day, to remind the labourers that the latter is only living at the mercy of the firm owners. Ironically, Serbia is traversing the path of privatisation and could well up to its moniker ‘Balkan Tiger’! It’s clearly time for the Confederation of Autonomous Trade Unions of Serbia to share in the economic growth by coming together and ensuring that Alexandre Dumas’ classic cliche – one for all... – doesn’t just rest in the hall of fame!


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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist).


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B-schooled in India, Placed Abroad (Print Version)
IIPM in Financial times (Print Version)
IIPM makes business education truly global (Print Version)
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IIPM Campus

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For More IIPM Info, Visit below mentioned IIPM articles.
1500-plus IIPM students placed across the country with 44 bagging international offers
IIPM set to beat economic slowdown
IIPM, GURGAON
IIPM - Admission Procedure
IIPM awards four Bengali novelists
The Hindu : Education Plus : Honour for IIPM
IIPM ranked No.1 B-School in India, Management News - By ...
IIPM Ranked No1 B-School in India
Moneycontrol >> News >> Press- News >> IIPM ranked No1 B-School in ...
» IIPM ranked No1 B-School in India :: Education, Careers ...
The Hindu Business Line : IIPM placements hit a high of over 2000 jobs
Deccan Herald - IIPM ranked as top B-School in India
India eNews - IIPM Ranked No1 B-School in India
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