India and China scored a low rating in a U.S. study which evaluated management practices of organisations. While India’s managerial practices have been gaining global admirers, broader Indian managerial practices were below par, the study said. Also, family-run firms, especially those run by the first-born children, were more likely to have poorer managerial practices. The authors studied managers across 10,000 organisations in 20 coun tries. They were gauged on performance monitoring, target setting and incentives/people management. U.S. ranked the highest in terms of management practices, followed by Germany and Japan. U.S also did well in monitoring and target setting. Indian and Chinese firms scored low on this count, preferring to use incentives such as salaries, bonuses and perks to encourage managers. The quality of managerial practices at multinational firms was found to be better than that at domestic firms.
The global economic scenario is prompting premier B-schools such as the Indian Institutes of Management (IIMs) to look at the domestic market for recruitment. These institutes have in the past relied largely on international offers, but are now looking at Indian companies across various sectors. Emerging sectors such as e-commerce have also attracted their attention and courses are being modified to meet the new demand. Professor Ashok Banerjee, dean, new initiatives and external relations, IIM Calcutta, says there has been a “correction” in the nature of placements after 2008. With demand from multinational companies falling, Indian companies are getting good slots and picking up the best talent. Offers from investment banks have gone down in number, but this has been offset by participation from new companies and new sectors on the campus.
MasterCard study on the socio-economic development of women has placed India at the bottom of 14 Asia Pacific countries. The study consisted of five indicators. These were business ownership, business and government leadership, workforce participation, regular employment opportunities and tertiary education. Each indicator measures the ratio of women to men, with scores indexed to 100 (men). Though India was ranked last with an overall score of 48.4 after taking into account all five parameters, its scores have been moving upward since 2010, according to MasterCard. China, which currently has a score of 73.7, has been experiencing small declines since 2007. Australia scored the most at 83.3. The latest index shows that women are progressing across the key indicators in most markets, said Georgette Tan, group head, communications, Asia Pacific, Middle East and Africa, MasterCard.
An Accenture study said 40 percent Indian women were satisfied with their current jobs and not looking for new opportunities outside the company, compared to 28 percent men. Brazil scored the most at 74 percent. The study put overall job satisfaction in India at 34 percent compared to the global average of 42 percent. Despite this, less than half of the respondents said they were not looking for a new job because of flexible hours. Women cited lack of opportunities and heavy workload as reasons for dissatisfaction, while men cited inadequate pay. Respondents from developing countries were taking greater charge of their careers compared to those from developed economies, the study found. In India, more than 78 percent women proactively manage their careers. Apart from India, China and the U.K., careers were not managed at all.
Private equity firm Kaizen Management Advisors has promoted Jetu Lalvani as executive director, VC Circle reports. He was previously director of the company. Mr. Lalvani has 25 years of experience across verticals including education with school and college turn-around leadership experience. In the past, he has managed business interests at senior executive roles across various industries including the TEL Group, Saab Rosemount India (Emerson Process Management) and JBA Printing Inks Pvt. Ltd.
The HSBC purchasing managers’ index (PMI) showed manufacturing activity slowed in February compared to January. The index fell from 57.5 points in January to 56.6 points in February due to a slight contraction in output, falling employment and rising output inflation. PMI manufacturing recorded the highest growth in eight months in January. However, the crucial eight core industries which comprise 38 percent of the index grew a mere 0.5 percent. Markit Economics, which compiles PMI, said new orders touched a 10-month high and new export business recorded a rise for the fourth successive month in February. However, economists say the index needs to be viewed with some degree of caution. The index uses a different sample set compared with the index of industrial production and does not accurately track the core or infrastructure sectors, according to HDFC Bank economist Jyotinder Kaur.
Forbes magazine has named nine Indian women in its “Asia Power Businesswomen list”. Among them are ICICI Bank CEO and managing director Chanda Kochchar, Biocon founder Kiran Mazumdar-Shaw and film producer Ekta Kapoor. The list names 50 “pathbreakers” whose extraordinary business success has contributed to the region’s remarkable economic growth, Forbes said. It includes CEOs, founders and executives from China, Japan, Australia, Hong Kong, Macau and Vietnam. Most have had to overcome significant barriers to get where they are today. Their business success is a combination of capital, ideas, energy and leadership. These 50 dynamic women are not only game-changers within their respective industries, but have inspired and empowered many talented women to follow their example, Forbes added. Vinita Bali, managing director of Britannia Industries, and Shobhana Bhartia, chairperson and editorial director of HT Media, also feature in the list.
The telecom job market has taken a beating post the Supreme Court ruling on 2G licences. New players such as STel and Etisalat DB have decided to exit and are laying off staff. STel has asked most of its 500 workers to leave after paying them two months’ salary in advance. UAE-based Etisalat has offered to absorb about 80 percent of its 1,000 employees in operations in other countries. Newer entrants such as MTS and Uninor are struggling to retain their workforce. Incumbent firms such as Airtel, Tata Teleservices and Reliance Communications have restructured their operations recently, resulting in nearly 6,000 job losses. The lay-offs have led to a glut in the employment market. With new telecom companies exiting and those remaining not investing more in network expansion, there are fewer openings, according to Dony Kuriakose, director, EDGE Executive Search.
CEOs across the world feel more emphasis should be placed on measuring non- financial assets such as intellectual capital and customer relationships for long-term growth. The American Institute of CPAs and Chartered Institute of Management Accountants (CIMA) conducted a survey of 300 CEOs. Just 51 percent of CEOs said their organisations currently measure the value of non-financial assets well or very well, according to the survey. Only 12 percent said they sought out their finance teams for the job. One of the main struggles faced by CEOs is building sustainably for the future when the focus is solely on financial, short-term gains, said Charles Tilley, CEO of CIMA. Management accountants, who understand the business from several perspectives, can help businesses succeed in troubled times and create long-term sustainability, he added.
Only 10 percent of the engineering graduates from Tamil Nadu are employable, as per the National Employability Report 2011. The report, prepared by employability assessment company Aspiring Minds, put the state at the bottom of a list of 16 states. Tamil Nadu, with the second-largest pool of engineering students, failed on the employability scale when compared to Delhi and Bihar, which had 35 percent employability each and were among the best performers. The survey included students from government engineering colleges and self-financed engineering institutions from Chennai and colleges across the state. The other states at the bottom rung were Andhra Pradesh and Maharashtra. The results directly reflect the decline in quality of engineering graduates in states which have a high concentration of engineering colleges, said Aspiring Minds co-founder Himanshu Agarwal.
Vodafone India has made changes to its senior management. The company has appointed Sunil Sood as COO. Sanjoy Mukherjee as chief commercial officer will head the marketing function and Jonathan Bill business development and innovation. Anuradha Agarwal will head brand and consumer insights. Four directors have been named for the North, East, West and South zones. Rajiv Kohli is director for North, Sanjay Warke for East, Rohit Adya for West and B Singh for South.
The U.K. government is introducing a £35,000 annual salary cap for immigrants seeking to settle permanently in the country. Until now, permanent settlement was automatic after a stay of five years. The new rule is scheduled to be introduced in April 2016. Professionals who enter as PhD-level scientists and researchers will qualify for settlement without having to meet the threshold. The Home Office expects the number of Indians and other non-EU qualifying for permanent settlement to fall to 20,000 from 60,000 annually as a result of the changed rules. Separately, data from the Migration Advisory Committee shows that more Indian IT workers moved to the U.K. under the “intra-company transfer” route last year than in previous years, adds Times of India. The number of workers under the scheme increased from 20,000 in 2009 to 29,700 in the 12 months to September 2011.
The 6.1 percent rate of economic expansion between October and December, the slowest in 11 quarters, may put further pressure on the Reserve Bank of India (RBI) to cut interest rates. However, economists at Citibank and ratings agency CRISIL predicted a 7 percent growth in the current financial year, with the services sector maintaining strong growth. Three of the four sectors clocked more than 9 percent expansion, with construction topping 7 percent. Rajiv Kumar, secretary general of the Federation of Indian Chambers of Commerce and Industry, expressed concern over the possibility of the 6.9 percent advance estimate for the entire year being missed. Aditi Nayar, economist, ICRA, also said GDP growth for fiscal 2012 was likely to be at the lower end of the expected band of 6.8 percent to 7 percent.
Law colleges across the country have had it good this placement season, with many companies participating along with the usual law firms. The Government Law College (GLC), Mumbai, has placed half of its batch of 240. In all, 65 companies visited the campus and offered annual salaries of between Rs 5,00,000 and Rs 14,50,000. That compares with salaries ranging from Rs 5,00,000 to Rs 12,00,000 last year. At Symbiosis Law School, Pune, the season was better than expected. There has been a continuous stream of companies such as IDBI Bank, for instance, which came in after a long break. A placement head of a law school said though the situation had been expected to be as bad as in 2008-09, placements have gathered pace this year and may be even better in the next two months.
International B-schools are flocking to India’s executive education space. Harvard Business School (HBS) has become the latest to add an address in India for its management programmes. Starting this month, it will offer executive education at the Taj Lands End hotel in suburban Mumbai. HBS and its India Research Center (IRC), set up in 2006, offer three executive education programmes in India. It has already offered one executive education programme this year and will offer two more between March and May. The Wharton School of Business, University of Pennsylvania, is planning a centre here as well, said Jason Wingard, vice dean, executive education. It is present in the Indian, Chinese and Brazilian markets. Some others offering executive education programmes in India are University of Chicago, Tuck School of Business, INSEAD, Oxford University’s Said Business School and Duke University.
The Indian Staffing Federation (ISF) will be presenting to the government a discussion paper on the challenges before the industrhy. The sector is growing at a rate of 10 percent to 15 percent year-on-year and can expand faster in a more conducive regulatory environment, said K Pandia Rajan, federation president. The industry has the potential to create millions of jobs in India and can play a big role in supporting the government on equipping the labour force with more skills. The paper, Rajan explained, will shed light on the challenges in the areas of minimum wages, working hours and infrastructure at work. A key issue is service tax, a big concern for most companies especially in the staffing industry, where it puts a lot of pressure on working capital, said Basudev Mukherjee, ISF executive director.
PepsiCo India Foods CEO Varun Berry has resigned. During his 18-year career, he worked in various roles in the company’s India, Asia and Middle East businesses. Prior to this, he was heading International Dairy & Juice, PepsiCo’s joint venture with Saudi Arabia-based dairy company Almarai in Dubai.
WHAT is Jay's Mission? Jay धनंजय has a simple mission. He wants to help successful executives and Startups achieve positive, sustainable change and behavior- for them, their people, and their teams.
HOW does Jay do that?
He helps you make life a little better, still better.
What is Jay's Experience? Jay has over 44 years of experience. In helping C-Level and Senior Executives and Starup Entrepreneurs overcome limiting thoughts and behaviors and help them achieve the greater success/