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NEWSLETTER FROM DEPARTMENT OF MANAGEMENT STUDIES, IIT ROORKEE
DOMINATION VOLUME-III ISSUE-06
Editorial ……………………………………………………….
02 | Domination, December 2012 Department of Management Studies, IIT Roorkee
Dear Readers,
It is December, a month
of Holidays and festivals!! As
we are gearing ourselves for X-
Mas and new year celebrations
(particularly when Mayans
were proved wrong), we are
also looking forward for a new
session with lot of curiosity.
Amidst all fun and excitement,
we present you another edition
of Domination. We hope you
would find it interesting.
This month’s edition fea-
tures a lot of articles from a di-
verse range of topics. The cov-
er story for this edition is a very
relevant topic “Industry Inter-
action in Educational institute”
by Mr. Rohan Krishnan. The au-
thor analyses the gaps in indus-
try-academia relationship in
Indian context and suggests
ways to improve the scenario.
We also have another topic
which is very close to India’s
vision 2020. “India – road to a
sustainable growth” is aptly
written article by Mr. Saurabh
Paul which talks about some
major challenges faced by India
and how Indian growth can be
sustainable.
Taxes are always an in-
teresting point of discussion.
Any new development related
to taxes generates a lot of curi-
osity. Mr. Abhay Kumar, pre-
sents another thought provok-
ing piece about Taxes & GAAR
and its possible impact. This
Domination edition also covers
an appealing piece from one of
our own alumni Mr. Amitesh
from 2002-04 batch. The au-
thor tries to highlight some of
the business situations in a new
fashion.
Domination has never
lacked creative side. And we
have lots of things to show off.
This edition has another round
of quiz section for quiz maniacs
and also a beautiful poem by
Mr. Ashish Aggrawal. On the
other hand, it contains inter-
view of the Mr. Jitendra
Solanki. Mr. Jitendra Solanki
belongs to the very first batch
of DoMS which came out in
2000. Additionally, we have
success story column with Mr.
Pradeep Baijal, one of the most
distinguished alumni of IIT
Roorkee.
We are constantly trying
to upgrade Domination. From
this month, we have added a
new section for current events
at DoMS, IIT Roorkee. We hope
this new change will be liked.
Your suggestions, reviews and
comments are always welcome
to improve our efforts.
With this hope we wish
you a very Happy Reading and
Merry Christmas ! ! !
………………………………………………………
Contents Editor
Anurag Agrawal
Team DoMination
Aditi Joshi
Manav Kaushik
Manoj Kumar
Pawan Upadhyay
Priyank Singhal
Rohan Krishnan
Ruchi Gupta
Saumya Dani
Saumya Verma
Saurabh Paul
Sharad Srivastava
Sushant Sachdeva
Shibi Singh
Designing Team
Ritesh Kumar
Sabhariswaran P
Saurabh Patel
DEPARTMENT OF MANAGEMENT STUDIES INDIAN INSTITUTE OF TECHNOLOGY ROORKEE
04
08
15 28
21
Industry Interaction GAAR
To do List 2013-I Sustainable Growth
Qutopia
DoMS da Evince
23
Department of Management Studies, IIT Roorkee
Success Story
26
03 | Domination, December 2012
Roorkee - 247 667, India Tel: +91-1332-285014, 285617 Fax: +91-1332-285565 Email: [email protected]
12
DoMS Spotlight
20
Smile
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……………………………………………………….
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Educational institutions to-
day play the role of a factory
involved in the production of
highly skilled manpower for the
benefit of the industries. Aca-
demic institutions have con-
stantly adapted innovative
methodologies in education to
better equip their students.
Industries on the other
hand demand a great deal of
commitment and flexibility
from their new employees to
suit the global dynamics in
business. Academic qualifica-
tions are merely used as tools
to distinguish candidates' eligi-
bility at the entry level, while it
is the industrial proficiency and
soft skills of the candidates that
the companies actually look
for. Hence a symbiotic mar-
riage between the industry and
educational institutes has be-
come critical in modern times.
All educational institutes churn
out students with good grade
point averages. The question is
how many of these students
can adapt and apply all that the
knowledge they have absorbed
in pragmatic situations that
they would encounter on a dai-
ly basis in the industry.
The world has now be-
come a global village. The tech-
nological revolution has taken a
firm grip on every aspect of life.
With all these changes the de-
mands of industries today also
keep changing rapidly. In order
to meet these demands a regu-
lar, long term and concrete as-
sociation of industries with our
educational institutions is an
absolute must.
The question is why has
the need for this interaction
become so essential in modern
times? One of the prime rea-
sons for this would have to be
economic liberalization. Eco-
nomic liberalization has
brought about increased com-
petition with the entrance of
new private companies in the
market.
Cover Story
Perspective | Chlorophyll | Qutopia | DoMS da Evince | Success Story | Regardez I’economie | DoMS Spotlight
04 | Domination, December 2012
Industry Interaction
Department of Management Studies, IIT Roorkee
……………………………………………………….
………………………………………………………. It has become ‘The sur-
vival of the fittest’ where indus-
tries have to keep innovating in
order to stay ahead of the com-
petition. Thus industries need
quality and innovative man-
power who can think on their
feet and according to the given
situation. Thus it is very im-
portant for both technical and
management institutions to
produce graduates that the in-
dustry requires. This would be
possible only if the institutes
are well apprised of what the
industries require and this will
only happen through a continu-
ous interaction between the
two.
Goals of the Industry- Institute
Interaction.
The broad goals of this
interaction are stated below:
To improve on the ex-
isting educational programs
both at the under graduate and
post graduate level which
would help pass-outs cope with
professional tasks as they enter
the service without a need for
an elaborate on service training
programme.
Raise the level of com-
petence of both students and
faculty in educational institutes
through continuous activities
like Guest lectures, Industrial
visits, case studies borrowed
from actual industrial situa-
tions.
To provide Students
with facilities for industrial
training and the opportunity to
work on live projects being un-
dertaken by industries under
the supervision of faculty and
the professionals.
To provide an exchange
of personnel between the insti-
tute and user organizations. To
undertake joint projects on re-
search and development, using
resources from both sectors for
the benefit of society and the
indigenisation of national econ-
omy.
Everyone has heard of
the popular saying “It takes
two hands to clap”, it aptly fits
in here as well. A sincere and
consolidated effort is required
from both sectors to make the
III model a success.
Some of the activities
that would play a key role in
improving the interaction are
as follows.
1. Guest lectures by prominent
figures in the corporate sector
would create a general aware-
ness amongst students about
the latest in technology, expec-
tation from fresh graduates
and the various industrial pro-
cesses and safety measures
used. These could be done in-
termittently.
2. Seminars could be organized
on a regular basis which could
see active participation from
experts in the industry and fac-
ulty from institutions having
similar interests in the fields of
research and development.
This could expose all the activi-
ties carried out by both sectors
and may lead to a collaborative
effort in development work at
a later stage.
3. Experts should be involved
in the curriculum development
of institutes so that they can
emphasize the inclusion of top-
ics which will improve the qual-
ity of graduates and better
equip them for the challenges
they will face when they enter
the industry.
4. Finally it is important that
institutes involve experts from
the industry in the evaluation
of their students.
It is also important to
have internships organized by
institutes by various corporates
Industry Interaction
05 | Domination, December 2012
Perspective | Chlorophyll | Qutopia | DoMS da Evince | Success Story | Regardez I’economie | DoMS Spotlight
Department of Management Studies, IIT Roorkee
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Industry Interaction
06 | Domination, December 2012
Perspective | Chlorophyll | Qutopia | DoMS da Evince | Success Story | Regardez I’economie | DoMS Spotlight
which would help them to get
the experience of working in a
firm and would also help them
apply what they learn to get
more out of their courses.
Most educational institutes in
the country have teaching staff
with little or no industry experi-
ence and exposure. It is im-
portant that the institutes in
collaboration with the industry
organize training sessions de-
pending on the seniority of fac-
ulty. This would enable to fac-
ulty to improvise on their
teaching techniques and make
it more pragmatic. This would
make the experience more en-
joyable for the students and
would help them relate and ap-
ply what they have learnt to
face corporate challenges.
Like every other model
there are some hindrances to
this model as well. These ob-
stacles often inhibit a linkage
between the industry and edu-
cational institutes. Curriculum
in most institutes is examina-
tion centric and often im-
portant concepts which would
prepare a student for the in-
dustry are left out. The attrac-
tion for teachers to join various
technical and management in-
stitutes has suffered a serious
setback due to the non-
acceptance of the status of
teachers prescribed by various
bodies. This has made the task
of motivating teachers towards
training programs and industry
experience a cumbersome one.
Most diploma universities do
not encourage faculty towards
industry interaction. Continuing
education programs for work-
ing professionals and student
evaluation with the inclusion of
experts from the industry are
also largely missing. Many insti-
tutes do not have a deliberate
policy to encourage among
teachers the culture of innova-
tion, research and practical
problem solving. This noncha-
lant attitude invariably gets
passed down to the students of
the institutes as well. Senior
faculty at most institutions
does not appreciate the goals
of the system and of the insti-
tutions which prevent interac-
tion with the industry.
The question then arises
as to how institutes can over-
come such hindrances to make
the link stronger? It is im-
portant that all faculty mem-
bers put aside their personal
feeling and become one with
the goals of the institution.
They should work in unison to-
wards building a rapport with
the industry. This can be done
by responding holistically to
the needs of that particular in-
dustry. This is a gradual process
and cannot be done overnight.
It is important for everyone
from both sectors to be in-
volved right from the principal
and top management all the
way down to students and
shop floor workers. Only such a
gradual linkage would help
build a strong bond between
the two sectors.
On the other side of the
coin it is important for the in-
dustries to discard all precon-
ceived notions that they have
about the lesser known insti-
tutes and work with them on
improving their methodologies
and thus the quality of stu-
dents that they churn out. It is
imperative that both sectors
realize that a step from either
end towards this cause would
be largely beneficial to both
and to society.
Benefits to Faculty at the Insti-
tutes:
It would help teachers
Department of Management Studies, IIT Roorkee
……………………………………………………….
……………………………………………………….
Industry Interaction familiarize themselves with the
latest products manufactured
and processes used by the con-
cerned industry which would
help them prepare students
better for such industries.
It would help institutes
orient themselves with the new
and emerging areas of technol-
ogy in industries.
It would allow institutes
to relate theory to practical sit-
uations which would help them
deliver a better educational ex-
perience for students.
It would enable them to
be more aware of the job re-
sponsibilities of graduates in
the industry.
Benefits for the students:
The subjects would be
made a lot more practical
which would make them inter-
esting. Simultaneous applica-
tion of the concepts learnt to
actual industrial situation
would help them understand
the matter in a better way.
It would improve the
thinking capabilities of students
which would be especially help-
ful for budding entrepreneurs.
It would enable them to
assimilate real world problems
to different sectors and come
up with solutions for the same.
Fair insights into the working
environment of industry help
students in understanding the
relevant trade with all its com-
plexities and make better ca-
reer-related decisions.
Programs such as Indus-
try sponsored R&D and PG pro-
grams, Consultancy programs
in the industry, Training of fac-
ulty members in the industry
and continuing education pro-
grams for industrial personnel,
In plant training and industrial
projects to students, appren-
tice training and revamped
placement activities could all
help in making the bond
stronger.
Benefits to Industry personnel:
It would help enthusias-
tic personnel the opportunity
to have higher education in
their field of work which would
help them innovate and im-
prove on their productivity.
It would give them a
better understanding of im-
ported technology and ad-
vanced techniques which
would help them solve prob-
lems with greater efficiency.
It would show them new
ways to develop indigenous
technology.
They could benefit from inno-
vative research and develop-
ment work carried out by aca-
demic staff. This topic has been
given so much importance as it
is directly influential to the
overall economic development
of our country.
India has some of the
best educational institutes in
the world. However, year after
year these institutions keep
dropping in rank. One of the
main causes for this is the lack
of industrial interaction. As our
population increases so does
the competition. People today
only care about getting into the
best institutes and the best in-
stitutes only care about the
grades they dish out to stu-
dents. In this race the im-
portance and quality of educa-
tion is lost. Thus in India today
there is a sad irony which
stems from the fact that even
after graduating from the best
institutes in the country many
students find themselves strug-
gling to find employment.
It is interesting to see
where this link is heading. It is
important that institutions ca-
ter to the changing scenario of
07 | Domination, December 2012
Perspective | Chlorophyll | Qutopia | DoMS da Evince | Success Story | Regardez I’economie | DoMS Spotlight
Department of Management Studies, IIT Roorkee
……………………………………………………….
……………………………………………………….
Industry Interaction
the industry. Institutes should
work on producing engineers
and managers who are able to
efficiently at different levels in
the horizontal and vertical
bands of the manpower spec-
trum. The programs offered
should cater to all domains be
it technology, finance, commu-
nications, human resource, op-
erations etc. Higher level cours-
es like business programs and
engineering should allow en-
rollment of students from
different streams as this allows
students to share their experi-
ences and improves the quality
of education imparted as a
whole. This also increases the
interests of corporates from
different sectors which benefits
the institutes, students and the
corporates themselves.
Continuing education
would be another important
factor as has been mentioned
before. In today’s day and age
with policies of companies
changing rapidly it is very im-
portant for all employees and
technicians to constantly be
updated. This would be benefi-
cial to them and to the industry
they are a part of. It is im-
portant that institutions take
the initiative in organizing such
programs to help industry per-
sonnel.
It is also important that
diploma Institutions run jointly
in partnership with industries.
This does not necessarily imply
that funding should be from
the industry but more that the
industry plays the role of a
partner in determining policies,
course material and prescribing
the characteristics of teacher
appraisal and development,
admission of students and cer-
tifications etc.
Although this has been
undertaken on an experimental
basis in some states a major
breakthrough in actual imple-
mentation has not been made
due to government regulations.
This is likely to change due to
the effects of economic liberali-
zation.
So far all attempts to
make education relevant have
been aimed at treating the or-
ganized industry as the totality
of the world of work. We have
failed to recognize the needs of
08 | Domination, December 2012
Perspective | Chlorophyll | Qutopia | DoMS da Evince | Success Story | Regardez I’economie | DoMS Spotlight
Department of Management Studies, IIT Roorkee
……………………………………………………….
……………………………………………………….
Industry Interaction the unorganized sector which
provides livelihood for the ma-
jority of the country’s popula-
tion and has the potential of
opening avenues for employ-
ment and self-employment to
appropriately trained stu-
dents. This would also help in
the overall socioeconomic de-
velopment of the country.
It is very evident that in to-
day’s day and age industry in-
stitute interaction is of utmost
importance. In order for socio-
economic development to
take place in our country we
need to ensure that our insti-
tutes churn out quality gradu-
ates who would be able to ap-
ply the education that they
have received; to different
walks of life. According to sur-
veys India is one of the highest
producers of graduates in the
world. In spite of this achieve-
ment we are still known as a
developing nation. A change
must be brought about. It is
about time we take a more
pragmatic approach to this is-
sue and ensure that our future
graduates are of the highest
quality and that they retain
the same long after they enter
the industry.
It is high time that the gap be-
tween educational institutions
and the industry is bridged. A
little effort today will make for
a better India tomorrow.
09 | Domination, December 2012
Perspective | Chlorophyll | Qutopia | DoMS da Evince | Success Story | Regardez I’economie | DoMS Spotlight
By Rohan Krishnan DoMS, IIT Roorkee - Batch 2012-2014 [email protected]
Department of Management Studies, IIT Roorkee
……………………………………………………….
Perspective ………………………………………………………
The government is reviewing
the tax treaty with Mauritius
and this raises several ques-
tions. Why a small country
having a population of just
over 1.2 million have such an
impact on Indian policy. Inves-
tigating further I came to know
of an interesting fact that of
total $47 billion FDI in Indian
market in 2011-2012, Mauri-
tius alone contributed nearly
one third of total inflows!! Be-
low data from RBI shows the
FDI figures for various years.
Second statistics from the Min-
istry of Commerce & Industry
explains the share of different
countries and this confirms
Mauritius is leading by a huge
margin.
Most of the investment
includes round-tripping of
money through Mauritius and
other tax haven countries. Not
only those counties are used
by many multinational compa-
nies for Merger & Acquisitions
and financial transactions
(though tax saving seems to be
prime objective) but they also
bypass complicated adminis-
trative system by doing all the
transactions in foreign coun-
tries. This somehow explains
why Mauritius is such a domi-
nant player.
One must note that Tax
avoidance is not an illegal ac-
tion. It is a taxpayer action by
which they have to pay least
possible tax without violating
any existing law. The most
common way of tax avoidance
is treaty shopping in which or-
ganization uses the tax treaty
between the two counties for
tax avoidance. On the other
hand, Tax evasion is an unlaw-
ful act and is the result of ille-
gality, suppression, misrepre-
sentation and fraud. To pre-
vent such episodes in the fu-
ture, Indian government resp-
10 | Domination, December 2012
Perspective | Chlorophyll | Qutopia | DoMS da Evince | Success Story | Regardez I’economie | DoMS Spotlight
GAAR
Department of Management Studies, IIT Roorkee
……………………………………………………….
GAAR ………………………………………………………
-onded with GAAR – the Gen-
eral Anti-Avoidance Rules
which gives authorizes the In-
come Tax Authorities of a
country to invalidate any busi-
ness deal or agreement which
do not have any commercial
interest other than achieving
the tax benefit. Vodafone is
not the lone example. There
are many M&A in litigation
such as GE & Genpact, Idea
Cellular & AT&T, SABMiller &
Foster, and Mitsui & Vedanta
etc.
GAAR is not at all a new
found concept. It was very
much in place in developed
countries. Australia was the
first country to introduce
GAAR in 1981. Canada, New
Zealand, Germany, France,
USA, China all has GAAR in
place in different form. India is
a developing economy where
getting foreign investment is a
big deal. For years, tax avoid-
ance was never an issue here.
However with the emergence
of India in the world economy,
the number of cross border
transactions having underlying
asset in India has really in-
creased. India had an age old
tax treaty with many coun-
tries. Leveraging on those tax
treaties most of the foreign
investors intentionally invest
through tax haven countries
(e.g. Mauritius and Singapore).
The government is reviewing
the tax treaty with Mauritius
or it is thought to put a provi-
sion in GAAR which covers all
the tax haven countries. In In-
dia, General Anti-Avoidance
Rules (GAAR) was introduced
first time in the draft Direct
Taxes Code in 2009. There-
after, a modified version
formed part of the Direct Tax-
es Code Bill, 2010. GAAR was
finally introduced by the Fi-
nance Act 2012 and it is to be
effective from April 1, 2013.
Salient features/provisions of
GAAR in INDIA
GARR can be invoked in
the following conditions:
1. If the agreement results in
direct or indirect misuse of the
tax code.
2. If the agreement lacks com-
mercial interest or substance
either wholly or partly.
3. If the agreement is entered
or carried out in a manner
which would not be used for
bona-fide purposes.
If the revenue authority
finds any agreement impecca-
ble they have the power to in-
validate any agreement and
determine the consequences.
1. They can disregard or set
aside any such agreement.
2. They can derecognize one or
two parties in the agreement.
11 | Domination, December 2012
Perspective | Chlorophyll | Qutopia | DoMS da Evince | Success Story | Regardez I’economie | DoMS Spotlight
Department of Management Studies, IIT Roorkee
……………………………………………………….
………………………………………………………. 3.They can disregard any ac-
commodating party or treating
many accommodating parties
as one and the same person.
4.They can reallocate income,
expense or reduction between
the parties.
5.They can consider or look
through an arrangement by
disregarding any corporate
structure.
Is GAAR required in India?
One of the preliminary
request of the Committee has
been to defer GAAR for 3
years, but the big question be-
ing, should any policy or law
which hampers foreign invest-
ment and development is re-
quired in developing country
like India be implemented at
all. GAAR was implemented
mostly in developed countries
that too with great caution.
India growth is very phenome-
nal in the last decade but we
still rank 134 on the human
development index. We are
far behind in development
compared to the developed
countries or even China and
we are dependent a lot on
FDI. According to planning
commission vision statement
2020, the current percentage
of FDI in gross capital for-
mation should be increased
from 2.1 % to 24.5%. In order
to attract more investment we
have to substantially improve
our infrastructure and elimi-
nate the bureaucratic barriers,
not the other way around. In-
dia requires huge investment
in power generation, telecom-
munications and other physi-
cal and social infrastructure if
we have to fulfil the vision
statement. Perception and
sentiments play a key role in
attracting FDI. Vodafone Case
and cancellation of Spectrum
license has already affected
the India’s image as an invest-
ment destination.
The way forward is not
to hand over all powers to au-
thorities otherwise this could
result in a large number of le-
gal battles or worse decline of
India as an investment desti-
nation. One way to incorpo-
rate the checks by segmenting
the amount of investment
therefore high amounts
should be separately looked
to ensure any foul play. Even a
pilot level study is doable be-
fore implementing such thing.
When the government itself is
putting all efforts to attract
FDI by increasing the FDI limit
in many sectors (Retail, Avia-
tion, and Insurance), GAAR
should not be seen as an act
to restrict or discourage inves-
tors. Any guard should only be
seen as a saviour not the de-
vourer.
GAAR
12 | Domination, December 2012
By Abhay Kumar DoMS, IIT Roorkee - Batch 2012-2014 [email protected]
Perspective | Chlorophyll | Qutopia | DoMS da Evince | Success Story | Regardez I’economie | DoMS Spotlight
Department of Management Studies, IIT Roorkee
……………………………………………………….
Perspective ……………………………………………………….
Let me dispel any confu-
sion right away. This is not a
piece of motivational literature.
In the spirit of honesty and un-
derstatement, let me confess
right away that my motivation-
al skills are rather pedestrian
and I could never be so heart-
less as to disturb those smugly
ensconced in their own bub-
bles with the figments of my
imagination. What I do love to
share with others, nonetheless,
is the honest, brutal picture of
life peppered with a feeling of
schadenfreude. What follows is
a list of things I want to do
right in the year 2013. I know if
I call them resolutions, the
odds of my accomplishing them
would go down to that of a po-
lar bear showing up at my
doorsteps in pink slippers. So, I
have decided to call it my to-do
list for 2013. Down to the brass
-tacks now :
Learn to become a Recession-
monger. Yes, Sir. You got that
right! One buzzword that stub-
bornly sticks with us for the last
four years and is refusing to die
away is Recession. Ever since
those morons at Bear Sterns
and Goldman Sachs decided to
play Russian roulette with their
clients, this world was not the
same. However, their blunder
could be a boon for the belea-
guered employees. Imagine
when your Boss is humiliating
you in a Monday morning
round-up and you drop the
‘recession’ bomb on him.
Boss: I am the green jelly mon-
ster. You want to keep your
job, get me the bloody reve-
nue. Are you listening, you
dumb ****?
You (interrupting): Boss, you
know ABC Corporation are
downsizing. They are doing it
top-down. Fired the Sales head,
for starters.
Boss (after a pensive pause):
Ehhh...What’s that new Job
portal you were mentioning
the other day?
It could work - much to
your amusement and to others’
annoyance - on everyone.
13 | Domination, December 2012
Perspective | Chlorophyll | Qutopia | DoMS da Evince | Success Story | Regardez I’economie | DoMS Spotlight
My To-do List for 2013 - I
Department of Management Studies, IIT Roorkee
……………………………………………………….
My To-do List for 2013 - I ………………………………………………………
14 | Domination, December 2012
In a moment, your boss could
transform from a roaring goril-
la into a farm animal that
knows it’s next to the anvil.
Imagine the damn feeling,
even Marques de Sade would
feel proud. As a result, I have
imbibed so much about reces-
sion that I now am a de-facto
expert on it. Not only can I
blabber on about recession for
hours but I can also draw
those gee-whiz charts and line
graphs, depicting 12.12.12
could actually mean a world
without jobs.
Won’t buy an iPhone5. My
sincere apologies to you Late
Mr. Jobs, but this is true. iPh-
one - the ultimate epitome of
sophistication and elegance; a
device that can shoot your so-
cial currency to stratospheric
heights overnight doesn’t fea-
ture on my shopping list. I
have decided to put a self-
approved embargo on the pur-
chase of this device. Reason is
simple. I can pretty much fore-
see umpteen attention-crazy
maniacs in my office waylay
this beauty. So, the exclusivity
and the attention-span from
my envious colleagues that I
was counting on so badly are
now bound to dilute and so is
my interest.
Be the loudest of the employ-
ees at work. Trust me, this
works. I have seen it work.
One of my now ‘formerized’
colleagues used to pull it off in
a fashion that could put the
likes of Dilbert and co. to
shame. See, the point here is
to get attention and impart a
serious reflection of your pen-
chant towards your work.
After all, failure to achieve the
ends should not prohibit us
from highlighting the means.
See, no matter how petty your
monthly sales generation is, if
you talk it up in the right man-
ner, you can actually avoid
many a crucial confrontation
with your boss. Every bit of
business should be a moment
of elation for you. Just prance
around, let everyone know
what a hard-nut the client
was, and how you used your
persuasion skills and charm to
coax him into buying your
stuff. If you are a cubicle
mouse, then make friends
with the people who sit right
across the rear corner of the
hall. No, still didn’t get the pic-
ture? It’s simple. You don’t
have to go to everyone, just
shout your point across to
your corner-buddy. Tops. I
know some people are inher-
ently brilliant at this while oth-
ers like me need to put in a lot
of practice. And the practice
may include checking my voice
inflexion every day, eating a
lot of vitamins, doing a few
mock-ups etc. Always remem-
ber, relegating yourself into a
shell only makes matters
worse. Arise!
Plug my ears while watching
CNBC. Yes, I am a great fan of
style and charisma. CNBC an-
chors and their sophisticated,
intellectual guests have loads
of it. However, I have pledged
not to lend my ears to any of
the million-dollar advice those
TV Einstein(s) have to dish
out! Why? It’s not that I ever
buy or sell my stocks on their
recommendations. Candidly, I
am sick and tired of the B.S.
garbed in the attire of sound
advice. See, a majority of
these stock analysts desper-
ately loves being on TV week
in week out. You’d never see
these geeks recommending
the audience to hold on to
good stocks for the next 3-5
Perspective | Chlorophyll | Qutopia | DoMS da Evince | Success Story | Regardez I’economie | DoMS Spotlight
Department of Management Studies, IIT Roorkee
……………………………………………………….
My To-do List for 2013 - I ………………………………………………………
15 | Domination, December 2012
years, let alone for longer peri-
ods. How could they? Doing so
could seriously curtail their
chances of getting crucial air-
time every week, thus, jeopard-
izing their rise to financial star-
dom.
To be fair, one huge
drawback of being on a finan-
cial news channel is in shape of
fan-following. There may not
be too many female fans to
brag about, seriously. But then,
not everyone gets a chance to
be on ‘Big Boss’, ‘Jeremy Kyle
Show’ or ‘Jersey Shore’. Never-
theless, it is one aspiration I
have held for long and it’s on
my to-do list, too
Perspective | Chlorophyll | Qutopia | DoMS da Evince | Success Story | Regardez I’economie | DoMS Spotlight
By Amitesh Jasrotia DoMS, IIT Roorkee - Batch 2002-04 [email protected]
Department of Management Studies, IIT Roorkee
……………………………………………………….
Chlorophyll ……………………………………………………….
Its wise to learn, its GOD like to create
16 | Domination, December 2012
Perspective | Chlorophyll | Qutopia | DoMS da Evince | Success Story | Regardez I’economie | DoMS Spotlight
By Ashish Aggarwal DoMS, IIT Roorkee - Batch 2012-2014 [email protected]
Take away my sun and my moon Take away all the glory and my silver spoon
but leave me with your smile because its the only thing that is mine
You are in Spain, you are in Brazil
I see u in sunrise and its beautiful blessing u seems to live in dark or may be real
just talk to me because I have been calling
Let the world live its life, till its ending leave the kids till its upbringing please don’t walk away with me
as everything is dwindling
People may come, people may go nobody knows where they are
as they live in shadow I write this letter and will let you know everything has a meaning and a reason
only when you glow
Now you know my feeling and all my fear take your time till you are absolutely clear
just say the nicest thing and I am ready to hear….
Smile
Department of Management Studies, IIT Roorkee
……………………………………………………….
Qutopia ………………………………………………………
It’s Exquizite, Kills your Quriosity and adds to your Quizdom. Need we say more? ‘Qutopia’ – A Utopia of the best Biz Quiz Tidbits to wreck your brains! Rush in your answers to [email protected] before 31st Decemeber, 2012. The winner will have their names published in the next issue. Also, person getting the highest score in the current quarter (Jul-Dec 2012) will get a gift voucher. Answers in the next issue of DoMi-nation.
Section A (1 Point for each correct answer)
17 | Domination, December 2012
1) “Bringing Energy to Life “is related to which company?
2) The ……………of an asset based on its original purchase cost, minus depreciation, amortiza-
tion and other similar devaluing costs.
3) Mckinsey coined the term …………….firms in the year 1993.
4) Caparo Group owned by ……………
5) Amartya sen is famous for his studies in ………….
6) What is a unique service offered by Bank of Baroda at Tirupati?
Perspective | Chlorophyll | Qutopia | DoMS da Evince | Success Story | Regardez I’economie | DoMS Spotlight
Department of Management Studies, IIT Roorkee
……………………………………………………….
Qutopia ……………………………………………………….
Winner of Qutopia (October 2012)
Kamal Deep, DoMS IIT Roorkee– Batch 2012-2014
Answers to Oct’12 Qutopia
Section A: -
1) Sothampton.
2) Mini marque which is at present owned by BMW.
3) Iran
4) Wangari Maathai in 2004 for for her ‘contribution to sustainable development,
democracy and peace’.
5) Is a collective name for World Bank and International Monetary Fund.
6) Poster by a Canadian activist group, ‘abdusters’ to protest movement that began on Sep-
tember 17, 2011 in Zuccotti Park, located in New York City’s Wall Street Financial district
against issues like social and economic inequality, greed, corruption and the perceived undue
influence of corporations on government- particularly from the financial services sector.
Section B: - A) Phillips B) Lamborghini C) Walmart D) Rolex
18 | Domination, December 2012
Section B (2 Point for each correct answer)
ID the Logos
A) B)
C) D)
Perspective | Chlorophyll | Qutopia | DoMS da Evince | Success Story | Regardez I’economie | DoMS Spotlight
Department of Management Studies, IIT Roorkee
……………………………………………………….
DoMS-da-Evince
Mr. Jitendra P. Solanki is Founder of JS Financial Advisors, a Financial Plan-ning firm based at Delhi.He passed out from the first batch of DOMS, UOR (IIT-Roorkee) in 2000 and since has spent 12 years of in financial services industry. After becoming a Certified Financial Planner in 2010 he started his financial planning practice. We are fortunate to hear his views and ex-periences.
1. Could you elaborate on your
career path and the reason be-
hind this choice?
Response: I have spent 10
years in Financial Services in-
dustry working as an Invest-
ment Advisor. I have been as-
sociated with various Banks,
Wealth Management Compa-
nies and few stock broking
firms. My last assignment was
with a stock broking house in
Delhi where I helped the com-
pany in setting up their finan-
cial product distribution.
During my career as an employ-
ee, I realized that there was al-
ways a need for the right ad-
vice to consumers but no one
was offering it. Most of the fi-
nancial institutions were heavi-
ly focused on their earnings ra-
ther than being customer cen-
tric. This was a huge dissatis-
faction and which lead me to
look opportunities to do Com-
prehensive Financial Planning.
It was in early 2000 that Finan-
cial Planning profession came
in India and I decided to move
my career in the right direction.
In 2010 I finally got my CFP cer-
tification. Even then there was
a dearth of companies who
were hand holding their clients
as a Financial Planner. So I pre-
ferred to work on my own and
launched my financial planning
services. I am moving forward
now to establish myself as
Practicing Financial Planner as-
sisting families and coaching
them to take the right financial
decisions for their future.
2. Could you give us a brief de-
scription of your company?
Response: JS Financial Advi-
sors specializes in fee based
comprehensive financial plan-
ning services to people across
the globe. For meeting needs
of various individuals it also
offers services on various ele-
ments of financial planning like
Retirement, Insurance, Invest-
ment, Portfolio Review and
Consulting. One of the niche
services we have added recent-
ly is Financial Planning for Fam-
ilies of Special Children in asso-
ciation with other professionals
in the concerned area.
3. Could you elaborate on
some of the training programs
offered by your company? Al-
so could you elaborate on the
niche service started by your
company for families with spe-
cial children?
Response: We offer trainings
on personal finance aspects to
almost all sections of society
via students, corporate em-
ployees, professionals, and
even financial advisors. These
training programs focus on un-
derstanding issues related to
money management and what
is the process one should fol-
low while managing their fi-
nances. We also conduct one
19 | Domination, December 2012
Perspective | Chlorophyll | Qutopia | DoMS da Evince | Success Story | Regardez I’economie | DoMS Spotlight
Department of Management Studies, IIT Roorkee
………………………………………………………
……………………………………………………….
………………………………………………………. individuals/families addressing
their concern related to money
matters planning.
Niche Services: Families with
Special Children’s find it diffi-
cult to manage their finances
since they have to plan for two
generations- Special child and
rest of the family. Also the spe-
cial child's future is a grave
concern considering he/she
may be life- long dependent
and there are hardly any bene-
fits from the government. Since
I had a family member who has
been working with these fami-
lies for last 10 years, it helped
me in understanding their
needs. With her expertise I
have started Financial Planning
Services to assist these families
in in planning their financial
well-being. Going forward I will
be extending my services to
other areas like Creation of
Trust and Wills, Estate Planning
for the benefit of such families.
4. What are some of the char-
acteristics required for a pro-
file in financial advisory? Any
courses in particular which are
important for this purpose?
Response: To become a suc-
cessful financial advisor one
should have a good knowledge
of the concept and should be
willing to put client’s interest
first. Since your advisory be-
comes the base of your clients’
future, your ethics and profes-
sionalism will ensure you deliv-
er the right services.
CFP or Certified Financial Plan-
ner is the highest professional
course in Financial Planning.
Although there are more ad-
vanced courses too in countries
like US, India has just seen the
entry of CFPs. There are indi-
vidual courses too respectively
for various financial products,
but for a complete comprehen-
sive financial planning, CFP is
the right course to pursue.
5. What are some of the chal-
lenges faces in your field and
the best ways to overcome
them?
Response: The biggest chal-
lenge in financial planning pro-
fession is low awareness. In our
country we are not used to pay
for advice and have been mak-
ing ad hoc financial decision.
This has been prevalent for
long and so there are lots of
misconceptions about financial
planning. Also, with the misuse
of this concept by companies
and agents, there is also confu-
sion in the minds of people and
they are finding it difficult to
make the right choice.
As a financial planner you have
to create lots of awareness to
make people understand the
concept of financial planning
and its benefits. By doing vari-
ous activities like corporate
presentation, meetings, semi-
nars, writing etc… you can help
people letting know that you
are the person who expertise in
creating a roadmap for their
future.
In India, as the awareness is
increasing, people are coming
forward to plan their future.
6. What according to you are
some of the factors that indi-
viduals and companies need to
take care of while designing
their financial plans, Invest-
ment and insurance?
Response: When it comes to
managing personal finance,
most individuals make common
mistakes like no track of their
finances, adhoc investment,
higher liabilities, choosing
wrong asset class, short term
view on investments etc. Also,
financial planning is misunder-
stood as either an investment
advice or a one time exercise.
DoMS-da-Evince
20 | Domination, December 2012
Perspective | Chlorophyll | Qutopia | DoMS da Evince | Success Story | Regardez I’economie | DoMS Spotlight
Department of Management Studies, IIT Roorkee
……………………………………………………….
………………………………………………………. If you are creating a compre-
hensive financial plan you cov-
er all elements of your personal
finance. It starts with analyzing
your financial health and iden-
tifying your exact requirement.
This gives you a clear picture
about your existing situation-
Your cash flows, liquidity prob-
lems, debt payoff situation in
an emergency etc. and what
are the gaps in reaching the
goals you have listed. Then you
analyze the options or alterna-
tives to bridge the gap. Based
on your financial situation, you
design a financial planning
strategy to implement the cho-
sen alternatives. This whole
process covers insurance and
investment planning in detail
along with other elements.
Thus, a financial plan covers all
aspects of personal finance and
if you follow it you do not have
to plan each element individu-
ally.
However, the most im-
portant factor in a financial
planning is periodic review. You
have to go through changes in
lifestyle like getting married,
birth of a child, retirement etc.
which impact your finances.
Through a review process, you
are able to easily accommo-
date these changes and plan
accordingly.
Thus, a comprehensive
financial planning process is a
detailed roadmap you draw by
addressing concerns of your life
which eventually takes care of
avoiding common mistakes in
investments or insurance plan-
ning.
7. For students like us or gen-
erally people in the age group
20-30 looking to start a family,
what things should be kept in
mind while going for an insur-
ance cover for self and family?
Response: When you are
young you are at the right
stage to plan for your future
primarily because your risk ap-
petite is high and you develop
your spending habit. You have
a good time horizon for most of
your goals which helps you in
optimum utilization of your re-
sources. The priority in finan-
cial planning approach is plan-
ning for contingencies. Job
Loss, emergency hospitaliza-
tion, accident etc. are risks
which may arise in the future
and without informing you. The
probability of some of these
risks may vary depending on
the nature of work. Hence, it’s
necessary that you do a detail
insurance planning to avoid any
dissatisfaction. The biggest ad-
vantage at a young age is that
you are able to avail high insur-
ance coverage with minimum
outages.
DoMS-da-Evince
21 | Domination, December 2012
Perspective | Chlorophyll | Qutopia | DoMS da Evince | Success Story | Regardez I’economie | DoMS Spotlight
Department of Management Studies, IIT Roorkee
Success Story ………………………………………………………
……………………………………………………….
It is not often that an institu-
tion is graced with the pres-
ence of an eminent person
from the industry like Mr. Pra-
dipBaijal. The Department of
Management Studies recently
had one such opportunity. We
were lucky to have had the op-
portunity to interview him and
gain valuable insights into the
various sectors he was a part
of. It was indeed a one of a
kind experience as he tapped
into almost every sector of the
country, sharing his views on
their current situation and how
they can be redeemed from
the same. A retired officer
from the Indian Administrative
Services, Mr. Baijal has served
as the chairman of the Telecom
Regulatory Authority of India
(TRAI) for three years. He has
also been an important part of
the Power and Steel sectors
where he has had a hand in
writing the regulations for the
same. He has also served as a
visiting fellow at Oxford Univer-
sity for a year on privatizations
and reforms. Prior to being ap-
pointed as the Chairman of
TRAI he worked as a Secretary
in the Disinvestment Ministry
for the Government of India for
almost three years.
After retirement, he
started a strategic consulting
company. His clients included
the two biggest corporates in
India, the Tata’s and RIL, be-
sides many MNCs, Indian com-
panies, multilateral institutions
like the World Bank, Interna-
tional Telecommunication Un-
ion (for restructuring telecom
sector in many developing
countries). He was on the
Boards of Nestle, GVK and Pat-
ni Computers and advisory
boards of IOC and IDFC. He also
served as the Chairman of an
Advisory Committee to the Pe-
troleum and Natural Gas Regu-
latory Board in India. He has
been giving lectures on Indian
regulation, restructuring, busi-
ness environment etc. to man-
agement schools, International
Financial Institutions in USA,
UK, Singapur, Hongkong and
India. He was also a member of
the Indo-American think-tank
Aspen. Currently, he has left all
assignments, and is concen-
trating on writing a book on
the fascinating ‘India Unwired’,
with a Professor in USA..
It was indeed a pleasure
interacting with him as it vastly
enhanced our knowledge. He
shared some of his experiences
in the various sectors he was a
part of and gave us some valu-
able advice as to how a career
22 | Domination, December 2012
Perspective | Chlorophyll | Qutopia | DoMS da Evince | Success Story | Regardez I’economie | DoMS Spotlight
Department of Management Studies, IIT Roorkee
Mr. Pradeep Baijal completed his engineering from IIT Roorkee (then the University of Roorkee) and then joined Indian Administrative Services. He also took part in a one year visiting fellowship at Oxford University. He worked as various key positions and handled several crucial reforms. After his retirement as a chairman of TRAI, he started a strategic consulting com-pany. Below is the summary of the encounter we had with him.
Success Story
……………………………………………………….
………………………………………………………path is to be planned. He also
shared his views on the future
of the Telecom industry.
He stressed on how im-
portant it is for business
schools to work in collabora-
tion with universities in the
west or in Europe. Mutual ben-
efits could be obtained from
this venture according to him.
Such an interaction is always
beneficial for the Indian coun-
terpart. He cited the example
of IIM Ahmedabad and now
the institution has benefited
from its interactions with vari-
ous universities from the Unit-
ed States. As a country he also
stated that instead of continu-
ously trying to emulate practic-
es in the west or in Europe we
could start looking towards a
country like China and learn
heaps from them. China is a
country with a similar make up
as that of India. It is multi-
cultural and populous just like
India is. The problems faced in
both countries are similar. He
stressed on the importance of
generating power by con-
structing more dams. Accord-
ing to Mr. Baijal India has a cor-
nucopia of untapped locations
where dams could be erected.
The north & northeastern part
of our country is full of such
locations that could be capable
of generating high volumes of
useful power.
Some specific questions
from the newsletter team fol-
lowed this session.
1. Among all the positions you
have held during your illustri-
ous career which has been the
most challenging of them all?
Response: Among all the posi-
tions Mr. Baijal has held, his
tenure as District Magistrate of
the undivided Bastar in Madh-
ya Pradesh (an area larger than
the state of Kerala) was the
most challenging. This was at a
very young age of around 30,
where he encountered the
emergence of Naxalism. Ac-
cording to Mr. Baijal, Naxalism
is caused more by the Govern-
ment than the Naxals them-
selves. He always believed that
such problems should be
solved in an amicable manner.
Meetings with the Naxals
would sometimes go on till
around 11 pm with no solution
in sight. He adopted the policy
of understanding things from
their perspective and then try-
ing to come up with a solution
which would benefit both the
administration and the Naxals,
rather than go for a high hand-
ed approach.
2. What is your view on the
Government policy on
‘Operation Green Hunt’?
Response: According to Mr.
Baijal, the Naxals are one of us.
All the problems have arisen
due to the unequal distribution
of wealth i.e. inefficiency of the
state in providing assistance to
people living in the hinterland.
According to him, the Naxals
are in dire need of cordial solu-
tions and hence he feels the
success of ‘Operation Green
Hunt’ is highly improbable.
3. With corruption on the rise
in almost every sphere of the
Government, How do you
foresee the future? Will India
have its own jasmine revolu-
tion?
Response: According to Mr.
Baijal, the situation in India is
very grim. He expects a radical
change but says that it is diffi-
cult to pinpoint the course In-
dia would take, at the mo-
ment. He further stated that
the Government is run not only
by politicians but also by bu-
reaucrats who are some of the
23 | Domination, December 2012
Perspective | Chlorophyll | Qutopia | DoMS da Evince | Success Story | Regardez I’economie | DoMS Spotlight
Department of Management Studies, IIT Roorkee
Success Story
……………………………………………………….
………………………………………………………the brightest minds in the
country. Yet the country suffers
from problems like inadequate
power supply. It is only when
these basic concerns are ad-
dressed that India will have a
brighter future. According to
him, even the brightest minds
are mostly in need of direc-
tion, which sometimes the poli-
ticians do provide.
4. How do you view the disin-
vestment of public sector com-
panies in the post liberalized
economy?
Response: According to Mr.
Baijal, the disinvestment of
public sector firms, and re-
forms, are a boon for the econ-
omy as privatization is the best
way forward to improve
productivity of industry and
economy. The most apt exam-
ple that he cited was that of
the telecom sector. The explo-
sive growth of telecom density
after the entry of the private
players shows that a higher
amount of efficiency and effec-
tiveness can be achieved
by private players competing in
a free market economy. The
role of Government should be
limited to regulating the sector,
in a transparent manner and
encouraging competition.
5. What according to you Sir,
lies in the future of the power
sector in our country?
Response: According to Mr.
Baijal, India is severely short on
its energy needs. The way for-
ward is utilizing hydro energy
and nuclear power. We have a
cornucopia of Thorium depos-
its in Kerala and Uranium de-
posits in North East India. This
ought to be utilized. We are
moving towards the third stage
of nuclear technology in which
thorium would be an essential
element. The environmental
problems caused by the gener-
ation of hydroelectric power
should be compared with the
disadvantages of generating
power from other sources.
Even though we have abundant
sources of Hydel power, we do
not develop them due to mis-
guided environment bottle-
necks. Lack of adequate and
reliable power supply leads to
poor productivity which in turn
affects the economy which
leads to increased unemploy-
ment and poverty. If this prob-
lem is to be eradicated we
must first start hydel sources of
energy.
6. India is a country where
sunlight is freely and abun-
dantly available. Why is solar
energy not widely used as a
source of power?
Response: According to Mr.
Baijal, solar energy though
abundantly available is a very
expensive. May be it would de-
velop as a viable source in
some years.
7. Could you tell us a bit more
about the book you are cur-
rently working on?
Response: It is called “India un-
wired” but that’s all I will say
about it. To find out more you
will just have to read it. This is
about the new model of te-
lephony and broadband, devel-
oping in India.
8. What kind of advice would
you give students and teachers
from B-schools all over India
with regards to what is ex-
pected from the corporates?
Response: According to Mr.
Baijal, Even though most insti-
tutions today are well endowed
with the requisites for carrying
out day to day businesses, it is
the extra steps that the insti-
tute takes which separates a
good B-school from an average
one. This requires collaboration
24 | Domination, December 2012
Perspective | Chlorophyll | Qutopia | DoMS da Evince | Success Story | Regardez I’economie | DoMS Spotlight
Department of Management Studies, IIT Roorkee
Success Story
……………………………………………………….
………………………………………………………from both the instructors and
the students. The best way for
a B-school to get itself recog-
nized is to establish links with
prominent institutes in the de-
veloped world. This kind of in-
teraction promotes the right
kind of learning among stu-
dents which enables them to
be more pragmatic in their ap-
proach. These are the kind of
students that the industry
looks for.
9. What do you see in India’s
future?
Response: After Web 1.0 and
Web 2.0, the age of Web 3.0 is
fast approaching. The introduc-
tion of Web 3.0 will create a
tectonic shift of sorts. Research
methodologies would be trans-
formed completely. This would
be a lot more interactive and
online businesses would pick
up to a great extent. This tech-
nology would make its appear-
ance somewhere around 2015.
“Be ready to be amazed”, he
added. The telecom sector
would also move towards 4G
and eventually towards 5G
which would entail a band-
width much higher. Speeds
would be phenomenal. The
little vexing circle that appears
in the middle of your screen
would be no more. However, a
lot of structural changes are
required in the telecom net-
work, mostly moving towards
unified and converged licensing
ensuring much better utilisa-
tion of scarce resources in
these networks, particularly
spectrum, and giving the free-
dom to operators to innovate
at a much higher plane, rather
than the Government micro-
managing inefficiently. As far
as the power sector is con-
cerned prepaid contracted
power delivered on open ac-
cess, already provided in the
Electricity Act/rules/
regulations/government poli-
cies, yet very inefficiently im-
plemented, will be the next big
thing. This would ensure that
power is delivered efficiently,
and used judicially. IT would
also minimize the power cuts
that most people in our coun-
try face. This has already been
adopted in Germany and will
soon make its presence felt in
our country.
These were some of the
brilliant insights that Mr. Baijal
shared with the ever so grate-
ful students from the Depart-
ment of Management Studies
at IIT, Roorkee. After this inter-
action the only thought in my
mind was that I wish we had
more time.
25 | Domination, December 2012
Perspective | Chlorophyll | Qutopia | DoMS da Evince | Success Story | Regardez I’economie | DoMS Spotlight
Department of Management Studies, IIT Roorkee
……………………………………………………….
Regardez I’economie ………………………………………………………
Often said as an economic
powerhouse, India has sus-
tained a rapid growth in the
last two decades. During finan-
cial crises in 2009, many stock
markets collapsed and even the
wealthiest of the world nation
could not rescue their econo-
my. India, though affected, re-
covered quickly and impact of
the crisis was short lived.
There are many factors
which depict how India tackled
global recession in spite of seri-
ous damages suffered by other
nations. This was due to vari-
ous policies implemented by
the Reserve Bank of India. Indi-
an economy is primarily driven
by domestic sources unlike oth-
er nation.
Since Independence, In-
dian economy has been a pro-
tectionist and regulated econo-
my. In 1990, liberalisation was
introduced in India which
changed the face of Indian
economy. India has made its
own path since then. India be-
lieved in not only implementing
new ideas from the present
scenario but also retain their
old notion of orthodoxy. Indian
economy varied as the people
had diverse occupations, right
from traditional farming to
modern industry.
But; has environment
been created to bring these
economic and social benefits to
all the populations? Today, In-
dia on one hand is succeeding
brilliantly while on the other is
failing miserably. Many Indians
are entering the world’s top
richest pool. On the contrary,
drive through any city or side,
poverty still exists. India has
one of the biggest slums in the
world. The country accounts
for one third of the world’s
26 | Domination, December 2012
Perspective | Chlorophyll | Qutopia | DoMS da Evince | Success Story | Regardez I’economie | DoMS Spotlight
Sustainable Growth
Department of Management Studies, IIT Roorkee
……………………………………………………….
Sustainable Growth ………………………………………………………poor people whose counting
reaches whooping 400 million.
Rich is becoming richer and
poor is becoming poorer.
Is India’s economic
growth sustainable? High eco-
nomic and social imbalances,
including illiteracy divide rural
and urban India. India’s success
on the global platform of eco-
nomic competitiveness is dete-
riorated by a wealth gap and
slow progress in primary edu-
cation and health.
Imbalance in road, elec-
tricity and transportation also
exists. Infrastructure has be-
come Achilles heel. Poor infra-
structure hinders basic invest-
ments - the road network, the
distribution networks, the
ports and in particular, the
power supply. For a new plant,
generating its own power is
very expensive thus resulting in
lesser number of plants set up.
27 | Domination, December 2012
In the agricultural sector, India
suffers the food grain and agri-
culture production loss of
around Rs 50,000 crore every
year due to lack of adequate
post harvest infrastructure and
inefficient supply chain man-
agement by the country's farm-
ers. India lacks efficient cold
storage and food packaging fa-
cilities as well as safe and effi-
cient rural transport system.
This results in one of the
world's highest food spoilage
rates, mainly during season of
monsoons and other adverse
weather conditions. Food
reaches Indian consumers
through a slow and inefficient
group of traders.
India is facing a grave
energy shortage. Of the three
major energy sources, coal, oil
and gas, India’s major source of
energy is coal. But despite be-
ing in abundance, it is unable
to meet country’s energy
needs. Imported oil, which met
60-70% of India‘s oil needs in
2006 is expected to provide
90% by 2025. In their pursuit to
grow rapidly, most of the Indi-
an States seem to have ne-
glected key environmental and
natural resource concerns,
which has resulted in large-
scale depletion of natural re-
sources and rapid degradation
of the environment.
Perspective | Chlorophyll | Qutopia | DoMS da Evince | Success Story | Regardez I’economie | DoMS Spotlight
Department of Management Studies, IIT Roorkee
……………………………………………………….
Sustainable Growth ………………………………………………………
Sustainability is more
than a fashion word for good
times. It acts as the building
block for cohesive societies. It
is needed now more than ever.
There is a reason for hope.
India is developing its
infrastructures rapidly, but in-
adequately. Due to involve-
ment of private sector, various
landmarks have been built like
Buddha International circuit,
the first Indian motor racing
circuit. But still, more concert-
ed government efforts are re-
quired to balance the infra-
structure.
The Indian government
is focused on eradicating illiter-
acy. In 1901, India had an abys-
mally low literacy rate of 5.35
percent. Literacy rate rose to
18.33 percent at the time of
Independence but in 2011, the
literacy rate had risen substan-
tially to 74.04 percent. India
has excellent universities which
have produced excellent scien-
tific scholars. Over the last 5
years, the number of Indian In-
stitutes of Technology (IIT) has
doubled, increasing from 7 to
15. Indian Institutes of Science
Education and Research has
increased from 1 to 6.
The Indian economy has
grown because of innovations,
especially in the new economy
sectors. Green Technologies
development could also create
new growth industries. Sustain-
able growth, for its part, re-
quires the creation production
of innovative assets that con-
serve non-renewable resources
such as land, water and the at-
mosphere and minimizes envi-
ronmental damage.
28 | Domination, December 2012
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Department of Management Studies, IIT Roorkee
……………………………………………………….
Sustainable Growth ………………………………………………………. Sustainable development is a
vision and a way of thinking
and acting so that we can se-
cure the resources and envi-
ronment for our future genera-
tion. It is not any one individu-
al’s task; it must be taken up by
society at large. It should act as
a principle which guides the
choices each citizen makes eve-
ry day, as well as guiding the
big political and economic deci-
sions that affect many of us.
Future generation depends on
us, but they can inherit an im-
poverished quality of life, may
share a condition of structural
weakness because of having no
voice and representation
among the present generation.
We can improve sustainable
development only when we
will involve citizens and stake-
holders. Finally, the vision will
become reality only when eve-
rybody contributes to a world
where social justice, economic
freedom and environmental
protection would go along with
each other, making our own
and future generations better
off than today.
29 | Domination, December 2012
Perspective | Chlorophyll | Qutopia | DoMS da Evince | Success Story | Regardez I’economie | DoMS Spotlight
By Saurabh Paul & Varun Goel DoMS, IIT Roorkee– Batch 2012-2014
Department of Management Studies, IIT Roorkee
……………………………………………………….
DoMS Spotlight ………………………………………………………
It was not an ordinary day for
Dept of management Studies,
IIT Roorkee. This was the day
when DoMS conducted two na-
tional level competitions, Vicis-
situde and Evangelist. There
was an aura of excitement in
the department and the stu-
dents were even more enthusi-
astic and thrilled about the oc-
casion. The event saw a large
number of participation from
colleges across the nation for
both contests. Everyone was
equally good and it was a chal-
lenging job for the judges to
choose the best among the
best.
Finally the date arrived.
It was 19th Nov 2012 when the
finals of these two events were
scheduled. There was so much
excitement in the air that stu-
dents reached the department
before the time!! However
apart from the events sched-
uled, something else was also
in store. We were fortunate to
listen to Mr. Devesh Singh, an
eminent lawyer and a professor
in IIFT Delhi. He walked us
through the constitution of In-
dia, gave an insight of the judi-
cial system of our country and
also explained some well-
known cases. He also talked
about some of the contempo-
rary issues. For management
students it was indeed an inter-
esting and satisfying experi-
ence to learn about something
which is not our domain. The
interaction was well received
by the students and faculties
alike.
The judges had arrived
by then and it was the time to
begin the show. First our de-
partment was introduced to
the guests. Jury members were
impressed by the diversity, the
calibre and strength of our de-
partments and student’s po-
tential.
30 | Domination, December 2012
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Department of Management Studies, IIT Roorkee
……………………………………………………….
Vyan ………………………………………………………The panel consisted of distin-
guished experts from industry
and academia. All guests were
welcomed by our Head of De-
partment Dr. Rangnekar. After
that each expert shared their
journey and experiences with
us. We were benefitted from
knowing how these people
thought and planned; what
challenges they faced and how
they overcame them. We also
came to know about some of
the major challenges faced
while starting up a new ven-
ture. These suggestions and
learning would surely increase
our understanding and
knowledge. Students were par-
ticipative in the discussion and
posed different set of ques-
tions which was answered skil-
fully by these experts.
After the sessions, the
competition began. Vicissitude
was scheduled first and then it
was the turn for Evangelist. The
stage was set and everyone
was prepared to see the battle
of the brains.
Vicissitude: Don’t Fear Predica-
ment, Plan It
Vicissitude is a national
level business plan competi-
tion, organized by DoMS, IIT
Roorkee. It tests not only busi-
ness skills but also the vision to
see the future. The event saw
national level participation and
was a huge success. Entries
were received from all India
colleges. Finally a total of six
teams were selected and called
on for the final round of
presentation. These six teams
are listed below:
FMS_Jeevan
DoMS IIT Roorkee_Shabd
Shiksha Sansthan
IIM Lucknow_Samaksh
Kisaan
IIM Calcutta_Paradigm
Great Lakes_Enerture
IMI_Tilzmatic
Each team was allocated
20 minutes for presenting their
entrepreneurial idea, showing
their business acumen and
queries & answers. As teams
started coming and started giv-
ing their presentations, the ex-
citement level begin to rise.
Each was better than the rest
and people were indecisive
about a particular choice. The
eureka moment came when
our home team was called for
showcasing their idea. There
was huge appreciation and sup-
port all around and people
were cheering up the teams.
This presentation went off very
well and even earned positive
comments from judges. After
all teams finished with their
presentation, the lunch break
was announced.
Evangelist: More than Just a
Fairytale
After lunch it was the
turn for another show Evange-
list. It is a national level engi-
neering project competition. It
gives us a platform to mix tech-
nology with business i.e. how
technology can be converted
into a profitable venture. Like
Vicissitude, this event also saw
a huge participation across the
nation. This event saw five fi-
nalists as mentioned below:
IITM Gwalior_XTECH
IIT Roorkee_Team Value
Dales Stream Mapping
Ansal Institute_ Piezoelec-
tric Roads
Ansal Institute_ Team Halo
Aviators
Team Selcoth
Every team had 15 minutes for
presenting their ideas along
with question answer session.
The teams were well prepared
and it became really tough for
the judges to decide.
31 | Domination, December 2012
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Department of Management Studies, IIT Roorkee
……………………………………………………….
Vyan ……………………………………………………… After both events were
over and it was the moment to
announce the result. Not only
participants but audiences
were also having a sense of an-
ticipation. Finally the envelopes
were submitted after some half
an hour discussion among judg-
es. There was a pin drop si-
lence and everybody was pray-
ing for his team.
First it was the turn of
Vicissitude participants. The
envelopes started to be
opened and names begin to
pour in. The atmosphere be-
came electrifying when home
team Shabd Shikha Sansthan
was declared winner. It was an-
other feather in the cap of
DoMS cap and there was a
sense of pride among the stu-
dents. A huge round of ap-
plause was served for first and
second runners which were
Tilzmatic and Paradigm respec-
tively.
After Vicissitude it was
the time for Evangelist winner’s
pronouncement and again si-
lence crept into the atmos-
phere. It was an even more in-
tense competition and no one
was in a position to predict an-
ything. The host started to
name the winners. And again it
was IIT Roorkee team which
won the competition!! IITR has
won both events and there was
nothing more one could have
asked for. It re-established the
brand IITR in not only business
but also in technology. Appreci-
ation was given to the first run-
ner up, Team halo Aviators.
There was a tie between XTECH
and Piezoelectric Roads for se-
cond runners up position.
However all teams were
equally good and admired by
the audiences. The event end-
ed with congratulating all win-
ners and a note of thanks deliv-
ered by our HoD Dr. Rangne-
kar. The judges again showed
their admiration of DoMS stu-
dent’s energy and participa-
tion. All of us were happy and
feeling fortunate to be a part of
this. The VYAN was over but
the memory will always be
there.
32 | Domination, December 2012
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Department of Management Studies, IIT Roorkee
……………………………………………………….
DoMS Spotlight ………………………………………………………
It is always an emotional sub-
ject for anyone to be back to
the roots. And it becomes even
more touching when it hap-
pens after a long time. DoMS,
IIT Roorkee also witnessed it on
24th and 25th November 2012.
The occasion was silver jubilee
alumni meet, a chance for for-
mer students and now industry
stalwarts to return to Roorkee
after a gap of 25 years. The
alumni as well as the institute
both were equally jubilant for
the moment. Not only these
two days gave us a chance to
meet them but it also provided
an opportunity to listen and
learn from these experts. A to-
tal of eight eminent personali-
ties gave their views, opinions
and thoughts on the topic
“Shaping the Future” which has
now achieved relevance as nev-
er before. The event went on
for two days and proved im-
mensely helpful for students to
get an insight and understand-
ing of real world business.
Day One: 24-Nov-2012
It was a fine day and the
students were eagerly waiting
for the occasion. Four distin-
guished people from industry
put forward their vision. Their
brief introduction is mentioned
below:
Mr. Arvind Mohan Mathur
(AM): Mr. Arvind got his engi-
neering degree from IIT Roor-
kee in 1987. He then joined IIT
Delhi and completed his mas-
ters in 1990. He earned his doc-
torate from Michigan State
University in 1996. He also
holds an MBA degree from
New York University - Leonard
N. Stern School of Business. He
has over 12 yrs of experience in
the Pharmaceutical Industry.
Currently he is the Head, Hospi-
tal/Specialty Business at Novar-
tis.
33 | Domination, December 2012
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Department of Management Studies, IIT Roorkee
……………………………………………………….
Shaping the Future ………………………………………………………Mr. Gaurav Saxena (GS): Mr.
Gaurav has also passed out
from IIT Roorkee in 1987 with a
degree in chemical engineer-
ing. He has around 25 years of
industry experience and cur-
rently serving as an AVP at Reli-
ance Industries Limited.
Mr. Siddhartha Guharay (SG):
Mr. Siddhartha obtained his
chemical engineering degree
from IIT Roorkee in 1987. He
then joined the University of
Missouri-Rolla and completed
his masters in 1991. He is hav-
ing more than 30 years of in-
dustry exposure. Currently he
is working as Chief Engineer-
Process at MottMacDonald Pvt
Ltd.
Mr. Mayank Sharma (MS): Mr.
Mayank completed his gradua-
tion in electronics and commu-
nication engineering from IIT
Roorkee in1987. He has over 9
years of working experience.
Currently he is the VP and Head
- Africa Market Unit at Comvi-
va.
As evident, the profiles
of the guests were very impres-
sive and everyone was ex-
pecting an intellectually satisfy-
ing session. The event started
with welcoming the alumni by
Dr. Rangnekar, our head of de-
partment. Then a brief profile
of our department was pre-
sented to the guests. Then the
discussion started in the form
of question and answers. And
the summary is given below:
Q: How do you see IIT Roorkee
ten years down the line?
SG: Always draw your lesson
from the past. Adapt according
to the outside world. Visualiza-
tion of the future plan is very
important.
AM: Future is uncertain and it
is difficult to see it. However
trend is visible for us to see. IIT
Roorkee has definitely grown
on its reputation. To shape the
future, we must have to shape
ourselves first. We should also
prepare for the change. One
should need to focus on learn-
ing new things. Based on that
capability, future can be
shaped. Another key aspect is
innovation and this is where we
should concentrate and con-
tribute.
GS: Study of the engineering
sciences gives us certain tools.
But this does not alone guaran-
tee success. One important
characteristic is the spirituality
quotient. Mr. Gaurav men-
tioned the Deepak Chopra’s
book “The Seven Spiritual Laws
of Success”.
MS: One must keep the pas-
sion for excellence. If the pas-
sion is not present, future can’t
be held. The example of the
Ganga Canal was cited by Mr.
Mayank to show how this pas-
sion resulted in an engineering
marvel.
Q: What is your idea about en-
trepreneurship and how one
should approach for starting a
new business?
AM: Being entrepreneur is the
coolest thing. One does not
need to get permissions from
others to do anything. But en-
trepreneurship also carries a
certain amount of risk and this
should not be avoided. There-
fore the here comes the Pas-
sion, the first ‘P’ of entrepre-
neurship. Without passion, one
can’t get success in anything.
One must also focus on the ini-
tial five to ten years of the busi-
ness as they are the most chal-
lenging ones.
MS: For every success story,
there are hundreds of untold
failures. We should still re-
member the success. Every fail-
ure brings more possibility for
34 | Domination, December 2012
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Department of Management Studies, IIT Roorkee
……………………………………………………….
Shaping the Future ………………………………………………………
35 | Domination, December 2012
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success. Failure as popularly
believed, may not be dramatic.
We should be ready for failure
and recover from it. Entrepre-
neurship is deemed to be work-
ing independently which on the
other hand, is actually working
according to many stakehold-
ers like consumers, partners,
employee etc.
SG: In an entrepreneurial ven-
ture, trust between partners is
extremely important factor.
Hence the selection of the part-
ner is very important in entre-
preneurship. The example of
Dhirubai Ambani was quoted to
suggest that we should not get
too upset by failures. At the
end it is the belief which works.
Additionally, attitude is a vital
factor. Knowledge can be gath-
ered, skills can be developed
but attitude one carries with
oneself. And that decides the
success or failure. Lastly, there
is need of the value based edu-
cation system.
GS: the primary purpose of en-
trepreneurship is “how to serve
better than others”. This is the
theme of any business. One
should learn about the need,
explicit and implicit and act ac-
cordingly.
The generic discussion was
concluded with it and now it
was the time for questions
from the audience.
Q: How conducive is environ-
ment for entrepreneurship
when compared to 25 years
ago?
MS: It is certainly much better.
There was no concept of ven-
ture capital then. Now a days
funding is very easy and envi-
ronment is positive. One
should note that first group
most often comes from a near
circle such as family, friends
etc. Even the big business en-
terprise capital is actually small
funding from some very rich
people. The share is low as it
carries great risk.
Q: Please tell us about your
journey.
AM: After my graduation, I
worked for BPCL at Bombay for
one year. Then I joined IIT Delhi
to pursue my master degree.
After my masters, I went on to
join Michigan State University
for my PhD. I have also got two
patents in my name. I also for
around 7-8 papers published
including one of them in the
“Nature”. Later I completed my
MBA from New Jersey. One
should plan according to the
goal. The sooner you know
what you want to do, the
better focused you are.
SG: After graduation, I worked
in Haldia Petrochemicals Lim-
ited which has government has
stakeholder as well. One
should not overlook the status
and contribution of PSUs.
These PSUs have actually built
our nation. There is no dearth
of talent either. The fault lies
somewhere else. Another point
was, an engineer should ac-
quire the hand-on experience.
This is required in case of
better management even.
These were the questions in
front of the guests which were
aptly responded. Then a note
of thanks was delivered to all
our esteemed guests and it
marked the end of the day. It
was truly an enriching experi-
ence for all of us and we were
eagerly waiting for the next
day.
Department of Management Studies, IIT Roorkee
……………………………………………………….
Shaping the Future ………………………………………………………Day Two: 25-Nov-2012
It was the second and
last day of the alumni meet and
discussion on the subject line
“Shaping the Future”. People
were again excited to learn
new things. This day again saw
four eminent personalities
from industry. Their brief intro-
ductions are as follows:
Mr. Anupam Singh (AS): Mr.
Anupam got his engineering
degree from IIT Roorkee in
computer science in 1987. He
completed his masters from
PHTO Utrecht, Netherlands in
1991 and also holds an MBA
degree from IIT Delhi in 2000.
He has more than 20 years of
experience in building engi-
neering teams from scratch,
leading start-ups as well as
large product teams. He is the
Co-founder at SharedReach.
Mr. Amit Dayal (AD): Mr. Amit
completed his graduation in
computer science from IIT
Roorkee in 1987. He then
joined the University of Califor-
nia and completed his masters
in 1989. He has also done MBA
from University of California in
2000. He is having more than
20 years of experience and cur-
rently working as Vice Presi-
dent Engineering, Yahoo.
Mrs. Shivani Arora (SA): Mrs.
Shivani did his graduation in
computer science & technology
from IIT Roorkee in 1987. She
completed his master from IIT
Delhi in 1989. She is also an ac-
complished badminton player.
She has over 20 years of expe-
rience and is currently working
as technical manager at Alcatel
Lucent India Ltd.
Mr. Vineet Shukla (VS): Mr.
Vineet got his engineering de-
gree in industrial engineering
from IIT Roorkee in 1987. He
completed his masters from IIT
Delhi in 1988. He is having
more than 25 years of experi-
ence and is currently working
as a Program Manager at Tata
Technologies Ltd.
Again, the profiles of the
guests were very extraordinary.
The event started with wel-
coming the alumni by Dr.
Rangnekar, our head of depart-
ment. Then these guests were
introduced to our department
through a presentation. After-
wards the discussion began.
Q: How do we shape the fu-
ture?
AS: Future is actually in our
hands. My belief is, the way
you can shape the future is by
acquiring the entrepreneurial
spirit. Passion is a very im-
portant factor for the success.
Another factor is persistence
which is also essential for suc-
cess. The next factor is owner-
ship. One should remember
that ownership is never as-
signed, it is always acquired.
SA: Basics of communication
are very important. Another
thing is that we desperately
lack planning. We might be
good in execution but we must
focus on planning part.
VS: We are deciders of our
own futures. Vision is really a
big thing for shaping the fu-
ture. Also consistent teamwork
is the key for the success. Con-
viction is significant for success
as well. Lastly, knowledge is
something which can be ac-
quired but wisdom can’t be.
AD: Technology is the new
mantra. Whatever you do,
technology will be a part of it.
Therefore we should embrace,
not go away from technology
advantage. Future of technolo-
gy is around products, not the
services. So we have a mind-set
that we have to build great
products.
36 | Domination, December 2012
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Department of Management Studies, IIT Roorkee
…………………………………………………….
Shaping the Future ………………………………………………………
37 | Domination, December 2012
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Q: With respect to IIT Roorkee,
how do we go about i.e., what
is the road ahead?
SA: IIT Roorkee has lots more
potential than it has today. The
major area of focus is planning.
People in other countries put a
lot of efforts in planning which
is not happening in India. Also,
a lot of people want to do
things for IIT Roorkee but they
have time constraints. IIT Roor-
kee should produce a game
plan to go about how to get
best results from people who
do not have enough time but
have the will to contribute.
Q: Apart from passion and per-
sistence, how important is the
idea?
AS: Ideas are necessary but
converting them into tangible
thing is the key. It is therefore
more important to spend time
thinking. Ideas can’t be gener-
ated by sitting at home. Expose
yourself to the outside world
and learn what is going on
around the world.
AD: before any idea, we have
to check whether it is required
at all. The reason being, if it is
not satisfying any need it is not
fruitful.
Q: Talking in the context of In-
dian IT industry, we see a lack
of innovation. How we as man-
agers, can mitigate this issue?
AD: Usually a lot of focus is
given on services rather than
products. However products
are the area where there is a
lot of scope of innovation. Ser-
vices generally have optimiza-
tion rather than true innova-
tion. This has been recognized
and there is increased focus on
innovation. Now most of the
service organizations also oper-
ate in product domain.
VS: Today the market is chang-
ing which is giving a lot of push
for the product development.
In the future, we expect to see
innovative ideas from this sec-
tion mainly.
AS: Prima facie, product devel-
opment provides a compara-
tively low return on investment
to the service provider. People
should understand what prod-
uct development is. Building or
creating a product is easy part.
The tough part is to sell it and
manage it over the time. But
that is where revenues are gen-
erated. In comparison, the ser-
vice industry is a lot easier.
However product development
is very learning and it adds tre-
mendous value to the person.
Organizations always look for a
person with significant product
development exposure.
Q: What are the must-haves
for starting up an entrepre-
neurial spirit?
AD: the first thing we should
look for is, are you solving a
problem or it is just for the sa-
ke of it. The next important
consideration is, do you have
the right team.
AS: Finding the right team is
like marriage. We need to
spend time with a person to
evaluate if we can trust the
person. It is extremely im-
portant. Second, it is not about
the idea but the passion about
the idea.
SA: One must be ready for the
failures. Once we know we can
handle it, we can focus on it in
a much better way.
VS: Learn to be risk taking. Dis-
cipline is very important yet we
should also have enough flexi-
bility to take up new challeng-
es. Discipline should not be
translated into rigidness.
Department of Management Studies, IIT Roorkee
…………………………………………………….
Shaping the Future ………………………………………………………This was the last query and it
marked the end of the session.
A note of thank was delivered
to all guests. This marked the
formal conclusion of the ses-
sion. It proved to be a very use-
ful session which would defi-
nitely help students in their
grooming as future managers
and leaders.
38 | Domination, December 2012
Perspective | Chlorophyll | Qutopia | DoMS da Evince | Success Story | Regardez I’economie | DoMS Spotlight
Department of Management Studies, IIT Roorkee
Department of Management Studies, IIT Roorkee
Roorkee - 247667, INDIA
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