Tata Steel's Rural Development Services

Sharing insider statistics, Shakti Sharma, the Head of Tata Steel’s Rural Development Services, reveals that Tata Steel still invests an enormous equivalent of 10% of profits after taxes on social initiatives! No doubt generations wish to work for Tata Steel. It’s still quite easy to find such employees who have had their forefathers over generations working with Tata Steel. And it’s not just easy picks like Sudha Murthy (Narayana Murthy’s wife), or southern cine star Madhavan’s father, both former employees with Tata Steel, that we’re talking about... We bump into Naveen Kumar Das, an MBA with Tata Steel, who drops jargon as if there is no tomorrow.

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Source:- IIPM-Business and Economy, Initiative:- Prof. Arindam Chaudhuri - 2006

WHEN BEGGARS DIG GOLD

The modest initiative by Mohammad Yunus with the poor man’s bank has brought the sleepy nation to the limelight. Beginning in 1976, Mohammad Yunus’ out-of-the-box experiment with ‘Trust’ not only accrued rich dividends for those constituting the Bottom of the Pyramid in Bangladesh’s economy, but also revolutionised the concept of micro-credit. At present, Grameen Bank caters to the needs of 6.6 million poor Bangladeshis with an annual credit flow of $608 million (2005). Its emphasis on ‘trust’ (especially on women) rather than demand for ‘collateral’, made it accessible to the needy. This poor man’s bank stands at a repayment rate of 96-8%, a figure which is enough to make asset managers of several banks fume with jealousy. A new change is in the making.

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Source:- IIPM-Business and Economy, Initiative:- Prof. Arindam Chaudhuri - 2006

FAMILIARITY BREEDS CONTEMPT

SUNCORP & PROMINA MUST ENSURE THEIR COMMON PRODUCTS DON’T SUFFER
Apparently Suncorp CEO, John Mulcahy, & Promina Chairman, John Story, share something more than just their first names – a common vision for a better future! It was this common vision that led to the merger of the two Australian financial heavyweights – Suncorp-Metway Limited (Suncorp) & Promina Group Limited (Promina), which was on October 23, 2006. The deal, valued at $6 billion, entails a complete buyout of Promina’s ordinary shares by Suncorp – valuing each Promina share at $5.88. And thus emerges the second largest general insurance body and sixth-largest banking firm in Australia and New Zealand with combined assets of $48.42 billion and an M-cap of $20 billion. Australian financial institutions are seeking such amalgamations to achiev scale.

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Source:- IIPM-Business and Economy, Initiative:- Prof. Arindam Chaudhuri - 2006

Geo-Political History

The draft constitution provides the legal framework for a democratic political system. It has been stated in the First Article itself that the boundary of Bhutan is inviolable, an obvious rebuff to the Chinese. Incidentally, the Chinese soldiers marched into the Bhutanese territory on November 2005 on dubious pretext, and since then, have been building roads in those areas totally ignoring the Official Bhutanese protests. Increasing military garrison in the region can be read as another Chinese endeavour to do another ‘Tibet’ in the region. Unlike the power hungry counterparts in neighbouring Nepal, the monarchy here has been officially labeled as the ‘friend of the people’, meant to satisfy the genuine aspirations of people. These steady transitions, minus the usual ‘revolution’, has almost been an unheard thing in modern geo-political history. The world, indeed, needs to learn, even if from the tiny-tots in the international arena.

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Source:- IIPM-Business and Economy, Initiative:- Prof. Arindam Chaudhuri - 2006

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French Revolution

Rousseau’s ‘Social Contract’ that stoked the French Revolution, Plato’s dreams of the ideal State in ‘The Republic’, Ayn Rand’s ideas of human motivation that are exclusively individual, or even the socially conscientious works of our very own Mahasweta Devi… whither are they to be read when kids can’t seem to wean themselves off blogs now. India is the ‘Guest of Honour Country’ at the Frankfurt fair, this year (See Box); IIM grad Chetan Bahgat indulges his love for writing with successful works of fiction; Anita Desai’s daughter Kiran Desai makes it to Man Booker shortlist… There is hope just enough so that you know it’s not right when Apple promotes its Notebook series with a tagline that says, “The only books you’ll need.” After all, you can’t dog ear a laptop yet…

For Complete IIPM - Article, Click on IIPM-Editorial Link

Source:- IIPM-Business and Economy, Initiative:- Prof. Arindam Chaudhuri - 2006