The start and the progress

This optimization will always have to balance the strike of the double edged sword of decreasing the costs and maintaining the Customer Satisfaction. Offering segmented service delivery The hyper-competitive telecom market necessitates that the entire base of the customers be segmented into different buckets depending upon their AO !Age On etwork"# $o% !$inutes of %sage" and revenue contribution. &or retention of the best customers the companies started the loyalty and the privileged customer programs which re'uired better skilled contact center agents and superior management of processes. This could only be achieved by better systems for training and operations. Gaining from the core competencies of the BPOs The contact centers are meant for providing uniform services to all the callers by adhering to the processes. The ()Os have developed capabilities of managing the business processes of varied types and have competencies to handle comple* operations with higher standards of service delivery. Establishing multiple channels for service delivery The outsourcing of contact centers freed the resources of telcos to focus more on development of channels through which the customers could be served without agents. The increased use of +,- !+nteractive ,oice -esponse"# speech# web and other non-voice channels of customer contact through customer education and influence was targeted. The telecom operators outsourced the entire contact center operations to .-/ ()O corporations for managing the operations of the entire country. The operators took a two-pronged approach of limiting the no. of strategic partners they tied-up with and ensuring that the contact center sites got located conveniently at the non- metro locations with regional language preferences to cut costs and manage attrition. This approach was followed by the below mentioned strategies 0. Transforming multiple standalone operations# into a single virtual call center for ma*imum efficiency# consistency and control. 1. -educing the application integration backlog that slows down agents and makes them less productive. 2. )roviding unified# universal customer access via telephone# email and internet channels# to open less costly and more convenient interaction channels while preserving 'uality and consistency across all channels .. 3eveloping and enabling a systematic process to make rapid ad4ustments to service delivery in order to ensure customer service e*cellence. What the future has in store?

Voice Self-Service The contact centre is caught in the centre of the 53emand 3elta6 the gap between customers6 increasing e*pectations and organization6s ability to deliver service. ,oice Self-Service is a communication channel providing opportunities to balance cost control with customer service and to address the issue of demand delta. Types of ,oice Self-Service The challenge would be effective implementation of the ,oice Self Service because +,- should involve customer preferences without making the system too comple* and slow to use while supporting the brand values of the organizations. +n terms of guidelines for the implementation of ,oice Self-Service the telecom operators would need to7 0. Select situations where customers make repeat calls 1. +dentify areas where call numbers are large and for a specific purpose 2. )ick applications where speed and convenience are particularly important .. Offer customers the choice of application. +n terms of usability# some key considerations that will have to be kept in mind7 0. Speed of +,- 8 9 either too slow and nor too fast: 1. )ersonality 8 9;ou6ve got to know it6s not a person: 2. &all out 8 )rovide the option to 5escape6 to a live agent .. +ntroduction by an education program /. Test# test and re-test for usability with customers. Customer e perience There are several compelling reasons for improving the customer e*perience7 0. Strategic7 The burgeoning competition and heavy regulation has commoditized the telecom services. +n rapidly commoditizing markets# customer e*perience may be the only way to differentiate the brand and create sustainable competitive advantage. $oreover# there are evidences galore that consumers are willing to pay a premium for a positive e*perience. 1. $arketing7 +f an organization can create 5raving fans6 or 5apostles6# it can actually buckle its e*penditures on marketing. The word of mouth and referrals by the present customers cause a Snow-ball effect leading to an ever magnifying base of customers. 2. Customer retention7 A customer receiving a better service and warm e*perience will always have a better retention probability# hence giving better revenues. .. -educe or eliminate 5cost to failure67 The costs resulting from a poorly designed or implemented customer e*perience can be enormous. <ven a trivial problem or issue can translate into multitude of calls in a contact centre. /. ew technologies7 ew technologies such as the +nternet and C-$# are aiding in improved customer e*periences.

!rom agent to e pert The agent is becoming increasingly central to the delivery of customer e*perience within the contact centre. =owever# with customers becoming more demanding and less satisfied with the contact centre e*perience# the agent often gets caught in the management of contradictions as they try to balance the demands of the organization !increase efficiency" with the needs of the customer !get service". As we move into the future the call centre agent needs to become more than a transaction processor# adding little value# and move into the role of an advisor and# ultimately# an e*pert. The 3emand 3elta trade-off between cost# control and 'uality produces three general types of contact centre model and contact centre employees. One model has evolved over the other with the passage of time and dynamism of the industry dealing with comple*ity# delivering value and customer satisfaction. "hese models are# Mass Production The Agent. +t is based on centralized control# rigorous process definition and employee compliance. A mass production contact center6s goal is to ma*imize throughput# deliver uniformity and minimize costs. +t is solely driven by productivity based >)+s for management of the operation and the goals of the business which often leads to behaviors that are detrimental to the customer e*perience !such as 5call bouncing6" Mass Customization The Advisor. A 5$ass Customization $odel6 is characterized by high levels of employee autonomy and empowerment. Agents become advisors. $ass customized contact centers aim to deliver effective# high 'uality# personalized customer e*periences using fle*ible processes# customer knowledge from the C-$ and knowledge system. =igh levels of first time resolution and customer satisfaction are the norm. Costs in this model are not managed through simply counting transactions and volumes of calls but by measuring and eliminating waste !and cost" through the identification of 5cost of failure6 demand !characterized by measures such as &C- !&irst Contact -esolution". Networked Expert The Expert. %nlike the previous two models# where work is monitored !to different e*tents" and knowledge is presented to agent at the appropriate moment in the workflow# e*perts themselves are responsible for maintaining and updating their working practices and knowledge. <*perts could be anyone in the organization with a particular e*pertise in a customer# discipline# locale# interaction skill# product or service. These e*perts do not necessarily reside in a traditional centralized contact centre 8 but could comprise a mi*ture of office based# mobile and home based workers. They may work anywhere !and for anyone" but they will have customer 'ueries routed to them intelligently# based on their e*pertise# appropriateness and availability.

Advertising - Its Importance In Marketing

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?ritten by Tanushree (hattacharya

?ritten (y 7- Tanushree Bhattacharya Advertising is a potent vehicle which includes imagination# creativity# concepts# ideas and innovation to promote new products and remind about changes in the old one. Advertising means selling but for this one need a creativity of mind with the work of beauty and art. Advertising can be said both powerful and magical. +t sells us dreams and has become fabric by selling life style. ?e can find that people of the society have tremendous impact of advertisements. +n today6s fast moving media driven world it plays a vital role in customers6 mind and sentiments. So advertisements reach to them through the route of emotion which is a powerful one in advertising. Advertising proves magical by the 5power of word5which leaves an image on the mind of the customers. 5?ords6 not only control the minds but it also changes the view points completely and help the customers to climb the ladder of in'uisitiveness. +f advertising is shown with the combination of words along with something new factor highlighted then it bring a favorable response of the consumers. +n the present market scenario advertising is e*periencing a period of rapid economic growth worldwide. @ike many other marketing tools# advertising is among one of them which try to draw the attention of prospective customers and try to 'uench their thrust for products and services by presenting them in a favorable manner. +f an advertising campaign proves effective then it invites more and more customers with greater fre'uency. Advertising is one of the parts of 5marketing $i*6. ?e have to accept the fact that advertising rely on the heart of marketing strategy which includes public relations# product# packaging# customer service# pricing# promotional programs# word of mouth and channel relationships among other strategies. Advertising acts as a guide book which tell us what to buy or not to buy. +t is found that advertising is 4ust not only the way to sale products or services but it also ac'uires its own importance by educating and providing knowledge to customers. +t can be said as revenue generator as many media outlets such as television# radio# and newspaper do business due to sale advertising which earns revenue and helps in economic growth worldwide. (uilding of brand image through advertising is important as brand always lives in the memory and hearts of the customers. Companies and customers can share a strong bond of relationship through branding. )romoting public relation is one of the greatest ways to form a brand because it only helps customers to understand a company and its products. To create a good brand and its effectiveness is a long battle although it makes selling easier. +n case of advertising whatever we see may not be reality and if it shows reality it is 'uite possible we may not see it. So one of the oldest and traditional conceptual model for creating any advertising is A+3A model7 get Attention# hold +nterest# arouse 3esire and then obtain Action. This model conveys that $ stands

for Awareness and Attention. That means the first task of an advertisement is to make customer aware about a product. % stand for +nterest. +t means when a customer will come to know about a product it will automatically create an interest in the mind of that customer regarding the product. & stands for 3esire. The desire to obtain that may be generated in the mind of the customer. At last $ stands for Action which is the final stage and depends on the determination of customer for taking action to buy that product. Through the help of the above model advertising can knock the mind of customers and if it proves effective customers will definitely try the product at least for once in their whole life and if it meet their e*pectation then it becomes their lifetime product. +n a whole advertising is important for marketing.

"he Point Blan' ( "ransforming )ural %ndia- Prevalent Scenario

countries advance not because of their size but by the manner its people lead their lives and by the character they possess and by the skill of their hands and intelligence they possess to do things. If India would make progress, it would do so because such people live here and not because 36 crore people live in this country. ! A pertinent 'uote of +ndiaAs first )rime $inister# )andit Bawaharlal ehru in the 0C/Ds during a visit to the small township of 3ayalbagh !population /#DDD at that time"# about 1DD kms from 3elhi. %narguably the 5-ural +ndia6 8 to what some prefer to refer as (harat - is predominantly dependant on agriculture for its livelihoods and the burgeoning population coupled with more efficient farm practices has made it unsustainable for agriculture to continue to sustain its traditional 9market share: of rural employment. +n +ndia# Today agriculture employs more than EDF of rural population# but only contributes to about 0GF to nation6s H3). The dependence of village communities# specially the resource-poor !comprising mostly of agricultural laborers and farmers with very small landholding" on land is enhanced because of the lack of access to other productive assets and skills. Today# ?< are a nation of appro*imately I2G#DDD villages with more than two third of total population living in the villages. +n this scenario# in order to achieve nationwide transformation and push our country in the orbit of 5developed nation6# bring mass awareness# fight against enemies such as poverty and population# create an advanced educated society of citizens and above all in order to witness +ndia transformed after E/ long years of independent rule# + believe# the up-most action-item is to bring about -ural Transformation.
Prevalent Scenario *eed to Eradicate +rban )ural &ivide As we are aware ma4ority of -ural +ndia population has been engaged in the core agricultural work till date. This# however# being the most accepted-and-followed Socio-<conomic modelJ there has been evident reason for the -ural ;outh to remain engaged in the 9business: which they had for generations. Categorization of task backed by limitation of choices in the -ural +ndia eventually widened the chasm between not only the -ural and %rban ;outh communities but also between the opportunities made available to them. $oreover# the divide not only barred the opportunities but also the e*posure of advancement to the youth of -ural +ndia. The divide formed uneven income groups starkly differentiating the %rban and the -ural ;outh. And# sadly so# the differentiation factor responsible for disparity is# + am sure# the 5unavailability of opportunities6 to -ural ;outh and certainly OT 5unavailability of talent6. +ndia is in the race of being a super-power and# luckily# there are many visionaries - like &ormer )resident A)B Abdul >alam who have already shown pathway for the same. Amidst all the efforts we direct to make +ndia a developed nation# the pressing need of time is to eradicate the opportunity difference between %rban and -ural ;outh. <radicating barrier of %rban -ural 3ivide would help us address plethora of our prime concerns such as poverty and population e*plosion !or implosionKL" to name a few. =aving noted the need for highly-scalable model which can bring mass awareness and help the nation prosperJ + believe there is a need for a model which# i" )rovides re'uisite opportunities to -ural ;outh a. &or getting trained b. To receive appropriate feed-back c. &or better utilization of their time and efficiency

ii" Creates employment with even opportunities for both men and women

iii" <liminates the difference of e*posure between %rban and -ural areas iv" )roves to be the most competitive yet economical model wherein comparison with other conventionalM traditional e*isting models. v" +tself should be a highly scalable for leveraging the untapped potential of the -ural ;outh. ?ith ED percent of our population living in villages# the development of +ndia will not be comprehensive or complete unless there is development in our rural areas. Our ob4ective of inclusive development will not be achieved unless villages do not prosper# where as $ahatma Handhi used to say the heart of +ndia throbs

Open Innovation In Slowdown

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About the Author7 $r. )rashant >umar# $(A Student# @$ Thapar School of $anagement# Campus <ditor# The C<O +nsights

$bstract +nnovation is a key to success and for survival as well. ?hen resources are scarce andM or constraints are imposed# new ways are to be sought to survive and sustain. Same is the situation at present in the world economy. &inancial turmoil has shaken the whole world and all governments. This has direct impact on enterprises# be it large companies or S$<s. The research paper analyzes the past and reframes the future. +t proposes a framework for the enterprises to survive based on open innovation and strategic correlation. The paper introduces open innovation and e*plains the role of open innovation in endurance of enterprises with briefing about challenges of open innovation. The paper proceeds with what can be achieved by open innovation in recession and e*plains the necessary actions for open innovation in recession period. The paper touches human side of innovation and based on all these# proposes a framework for open innovation. The paper ends with role of open innovation in small and medium enterprises !S$<s" to show importance of the same for their survival. ,- %ntroduction
The concept of open innovation approach is becoming more and more popular over the years# and several organizations adopt this kind of methodology. (ased on the open innovation approach# better results and developments can be achieved through the e*tension of the innovation processes outside of borders of an organization# and involving partners in the processes7 suppliers# customers# business partners# but especially the end users of the new products and services. Organizations realized the importance of opening their innovation processes# but there are several levels of this openness# and using e*ternal resources. +nnovation process is the development or refinement of new products# services or capabilities of an organization# or application e*isting solutions in new ways. &or the innovation process both internal and e*ternal knowledge can be used# or new knowledge can be generated. .- )ole of Open %nnovation The open innovation approach changes some traditional innovation and -N3 processes7 while innovative solutions are traditionally serious business secrets# this new approach makes the future solutions visible not only for the future users# but also for competitors. +n some cases open innovation processes are performed in informal development teams# networks# where only weak central coordination supports the processes !e.g.# @inu*# $ozilla# and Hoogle web applications". +n these cases the goal-oriented approach is more challenging# but there is a bigger possibility for radically new solutions. $ozilla developed a legal and functional model that allows the open source community and $ozilla itself to cooperate in product development !$endonca and Sutton 1DDG". The main advantage of open innovation is the involvement of new thoughts# approaches into the innovation process. The capabilities# competencies and possibilities of internal innovation are limited# while e*tending the innovation process outside the organization borders# opens !theoretically" unlimited capacities. Through e*tending the innovation boundaries a wider e*pert base can be achieved# where the e*perience from other fields or interdisciplinary areas can be useful for the innovation process. +n the case of a biotechnological firm# the company faced with a problem related to 3 A se'uences. (ecause they have failed to solve the problem# they opened the problem area for outsider scientist. (y surprise the winning solution was presented by a scientist# who is not even working close the problem domain# but he could understand it# and he could reframe an e*isting technology for the actual problem !@agace 1DDI".

As output# a company can directly use the results of the open innovation# or offer indirect products and benefits !e.g.# related to @inu*"# or use the by-results of the innovation process# like customer loyalty# or image !(urghin et al 1DDG". Challenges The biggest challenge in open innovation is the motivation of participants. =owever direct compensation !salary# prices# etc." can be challenging and interesting for several participants# more personal factors have more important role7 Curiosity# +ntellectual challenge of the problem !process of problem solving# achieving success"# &ame !to show the world of capabilities"# To be part of the community# &un !fun of problem solving". (ased on these motivation factors# in open innovation approaches organizations should make emphasis on building a suitable virtual environment for cooperation of participants# and offering intangible motivation factors. )articipants can even convert these benefits in other relationships# e.g.# the fame achieved in an open innovation pro4ect or in the open community could result a good paying contract from another company# or can be a good reference even for a company. Another important challenge is to convince the innovating organization itself about the benefits of open innovation7 decision makers usually afraid of presenting the future plans or current developments of the company. Through open innovation it is not hard for competitors to see# or figure out the current development plans for an organization.

/- %nnovation for recession /-, $chievable benefits The two key benefits are speed and the ability to capitalize on knowledge and labor regardless of where it resides. /-,-, Speed- Open innovation fosters faster e*changes of ideas through innovation action networks and shared development. Open innovation is more agile# better able to deal with uncertainty of markets and enables technology development processes that are more adaptive and efficient. <very company is facing greater demands to respond faster to their market and open innovation can enhance those efforts. /-,-. &istributed 'no0ledge and labor- Organizations can more effectively capitalize on skilled labor that is mobile and independent. ?e are reaching the end of knowledge monopolies based on conventional business models. Hlobalization trends re'uire increased knowledge to compete in other markets. =owever# in practice# companies are reducing their internal knowledge bases in an effort to run lean. The best way to meet knowledge and labor limitations is to use open innovation methods. Open innovation is about more than a small change in -N3. +t has the potential to revolutionize business. (ut at this stage of the revolution# the open innovation process is chaotic. +t is advisable to get involved early# fail 'uickly and often# learn from your mistakes and develop best practices for your company. /-. "o implement open innovation in an organi1ation The biggest issue with implementation is that one cannot simply copy another company. Too often a C<O mandates an open innovation initiative because it works for another company and thinks it can simply be duplicated. +t 4ust doesn6t work that way. Another issue comes as a result of the lack of company-wide engagement. A

innovation activities. +t has also been found the significant differences between different S$<-sizes which show that there are different open innovation strategies and practices among S$<s. Several motives have been found in studies for firms to start open innovation practices and barriers that S$< managers encounter when they open up their innovation process. Open innovation is mainly motivated by market-related targets7 these are the most important driver for firms to engage in venturing# to participate in other firms and to involve user in the innovation process. $ost S$<s use a broad set of methods to meet the ever-changing customer demand and to stay competitive. Corporate renewal is second most important driver towards open innovation. +n addition# many barriers for open innovation in S$<s are related to corporate organization and culture# no matter which type of open innovation practice is pursued. There is certainly no one uni'ue ways in which S$<s deploy open innovation strategies# but we have no further specifications about these different strategies. 2- Conclusion The recession and financial meltdown has provided companies an opportunity to come close to each other and to behave with each other in a way of partners in an industry than competitors. To survive# when the resources are scarce and constraints are increasing# innovation is the only way ahead. $any times# it has been proved that collective efforts have shown more substantial results than individual efforts. So# the time has come when all companies in the economy should 4oin hands with their suitable partners and to support each other in survival against all the odds. The purpose of the research is to communicate a message to all the companies and enterprises in +ndia that world economy is changing its faces and economical focus is shifting to Asia. Since# +ndia is a country having a large number of S$<s who contribute a ma4or percentage in economic development and growthJ it is re'uired to understand the role of innovation in their survival. Strategic partnership and collaboration will generate new ways to survival for enterprisesJ leaving them preparing stronger platform for themselves.

Games the First Boss should play with the fresh recruits from Colleges and Universities
"his is the hiring time for all fresh engineers and 3B$s- Every year they 4oin the corporate in the month of $pril5 3ay5 and 6une-

?ith lot of e*pectations# energy# vigor# optimism and with good academic and training background they are recruited from colleges and universities to the corporate.

These young educated people have tremendous potentials and they can perform at their peak performance provided they are given a very conducive environment where they can perform brilliantly. "hese fresh recruits loo' out for Conducive Corporate Environment5 and ma4or and most important player 7"8E !%)S" BOSS9 plays an important role to ma'e these young people to 0or' and perform at their bestThey are the managers7!irst Boss9 to whom the new recruits report# they play most pivotal role in building and shaping the new recruits careers and help them to build them as leaders in future. The role the &irst (oss is very important in setting directions # making and shaping these young people6s mind# careers and individual goals along with the corporate goals. Games the !irst Boss should play 0ith these young and fresh graduates 4ust coming out from colleges0. )esponsibility and Challenge7 The first (oss is an important person in everyone6s life# as we commonly say first impression is the best impression the first boss makes lasting impression in the fresh recruits6 mind. ;ou are the leader# manager# motivator# mentor# friend# philosopher# and guide to these young men. ;our responsibility is to make them true leader and a performer in the long run. %ndoubtedly this very challenging task and a stupendous responsibility to become the first boss in some ones life. 1. "as' and "arget Oriented7 -ight from the day one makes them accountable for the 4ob they have been assigned for. (e candid and polite to them and make them understand that they have been recruited for these specific task and should be ready to and willing to go for hard work in order to achieve the targets that they has been assigned for. +n a professionally managed organization performance is the only thing that matters. (e task an oriented (oss not a task master. ?hen specific targets are given along with time deadlines they may feel little bit nervous not for achieving the targets within that deadline itAs the &irst (oss 4ob to show them the process how to achieve the targets within the deadlines. $ake them successful because their success is your success. 2. "eacher and Coach7 The &irst (oss right from the day one make the business process understand to these young recruits# it involves lot of teaching and coaching for these young resources.

.. Po0er house of Encouragement7 The &irst (oss is the source of encouragement# he is the person who will break all the fears and doubts in the mind of these your people# enable them to open up their mind which can be a bonanza. <ncourage them to come out with new ideas of doing the 4ob and help them to do the OOut Of The (o* ThinkingO. /. $ppreciation Catalyst7 The &irst (oss should be loud in their appreciations even for little achievements that these young guys make. I. Can &o $ttitude %nitiator7 Appreciations by &irst (oss is like wining first 0DD meters flat race in schools# it increases the confidence level in these young minds and the 9Can 3o: attitude starts developing. After they accomplish small task and targets# slowly give them additional responsibility and bigger task and targets# make use of the OCan 3oO attitude artfully. E.8and 8olding %f *ecessary7 The &irst (oss should never hesitate to roll up his sleeves and make his hand dirty to teach comple* things to these young recruits# once he teaches them his 4ob becomes easier. ever get irritated even if they ask you very stupid 'uestions. -emember your parents did hand holding while making you walk. -emember handholding is a part of mentoringJ they remain obligated and indebted to you throughout their life. G. &elegate and Encourage "hem to "a'e &ecisions7 The &irst (oss should delegate little power and ask them to take small decisions. @ook out carefully for the outcome of the decisions if it6s good give them appreciations# if the outcome is poor sit with them to analyze where it went wrong and what precaution they should take while making the ne*t decisions. 3on6t shout at them if the decision is wrong they will close them up get back in to their cocoon. After all decision making is the most important thing in business. =elp them to make good decision makers. C. )espect :eads to )esponsibility# The &irst (oss should never ever disrespect these young recruits6 .-espect works like magic. +f you respect these young recruits they not only reciprocate but automatically take responsibility# and once they take full responsibility they start delivering the goods. -esults give confidence# and confidence building is a step by step method. 3elivering results becomes a habit. $utual -espect is a A?in-?inO situation.

0D. *ever Steal Credits7 The &irst (oss should never be a credit stealer# remember these young people are very smart they understand every thing# if you have a 2ID degree appraisal system working in your firm they will fi* you up then. Credit stealing by a boss is like digging his own grave in the professional organization. 00. &on;t involve them in Office Politics# <very office has got office politicsJ the &irst (oss should never use these young recruits as pawn in the office politics that he may be involved in. These young guys will come to know office politics and lobbying in due course .Office politics reduces energy and in turn reduces efficiency. =ere come the maturity calm and composed character strength of the &irst (oss. 01. Close 3onitoring7 The &irst (oss should keep a strong vigil about the 'uality of learning# engagement and the involvement in the work that these young recruits are doing. >eep always the communication channel open. $ake the communication is an adult -adult mode. 02. Encourage "hem to &o Self $udit $nd %ntrospection# The &irst (oss should make sure that the young recruits are making the 9Self Audit: after first ninety days of work and correcting themselves on the basis of their audits. Ask them to find out their own mistakesMdrawbacks and remedial measures which they need to overcome them. Hive them suggestions about the blind spots which you may find by using Bohary window. 0.. 3a'e "hem <"hin' Big=7 The &irst (oss should be able to make these young guys to 9Think (ig:. So he has to 9Think (ig: in order made others 9Think (ig:. +f you can make them 9Think (ig: they can achieve big by6 Thinking (igO is a practice and it stays lifelong. 0/. *ever Be $fraid of Smart and %ntelligent )ecruits# @ast but not the least the &irst (oss may come across young recruits much smarter and intelligent than him# please don6t get afraid of them# don6t think them as your threat. Smart people 0or'ing in your team can ma'e you and your team smarterThese are all old saying and observationsJ it6s 4ust like old wine in the new bottle. One interesting survey 0as conducted by an agency and it 0as found that >?@ of the employees donAt leave the organi1ation but actually leave their Boss%t;s easier said that done- %t;s true the impact of the !%)S" BOSS lasts long-

Bust after academics6s entering into the new unknown big corporate world is a transformation stage# where a professionally 'ualified student has to perform and deliver# some perform and e*cel and some don6t. ?ith my e*perience and observations + have written this topic after working in various firms watching many bosses and training and building many careers by being a boss. Some BOSS you 0ant to remember throughout your life and some you don;t 0ant to remember at all5 and they are your nightmare-

INDIA TO FOCUS ON LAG OF ENTREPRENEURIAL TALENTS AMONG RURAL YOUTH WITH THE HELP OF SUPPORTIVE DEVELOPMENT INSTITUTIONS UNDER PUBLIC PRIVATE PARTNERSHIP MODEL. Indians are in general risk averse and look for employment opportunities rather than engaging in business and industry. However in recent years some change is visible particularly in urban and metropolitan areas. It may also be mentioned that some sections of Indian people have earned name and fame almost globally as entrepreneur of small retail business houses particularly in provisions, clothes, and gold and silver ornaments businesses. It is interesting to note that such entrepreneurs could be traced in most of the counties of the world as since time immemorial these people have migrated from India to set up their trading businesses in various parts of the world. It would be further interesting to note that most of these people migrated from their villages and towns and stayed over there for generation. In fact even in agriculture like

sugarcane etc Indian farmers have enriched many backward countries through their entrepreneurial skill. However it is equally true that India lagged in Schumpeterian model of entrepreneurship for quite some time and of late only this could be seen emerging in metropolitan and also in some developed parts of urban areas. GLUED TO FARMING Most of the Indian villagers remained glued to farming only partly because the traditional farming was seasonal and provide enough time to laze away. It also needed no formal education. Moreover but for monsoon failure, the risk in farming was almost negligible and hence remained attractive for generations. However with the emergence of risks beside monsoon viz. seeds, attack of pesticide and volatility of prices of agricultural products farmers over the years developed a mindset of fatalist and cursed their fates for any calamities and sought doles, waiver and charity from governments and charitable institutions. It would not be wrong to say that successive governments and politicians even after independence followed a policy to keep farmers and artisans under their thumbs by making them dependent on their doles, grants and subsidies etc. as that helped them to build their vote banks. However it would be wrong to assume that villagers could not be transformed as entrepreneurs as they have been found developing many innovations even with primitive traditional knowledge for survival. It would be possible to develop an appropriate entrepreneurship model if rural youths are empowered with marketable skills. FORTUNE AT THE BOTTOM OF PYRAMID r ! k "rahlad of #harton in his famous book $%he &ortune at the bottom of "yramid' has brought out how poor people in rural India could become employable by adopting new growth models suitable for generation of new employment opportunities and economic growth. In this regard he stressed that the role of multi national companies has to be re(defined. He emphasized that the present trend of M)!s to cater for mature markets need to be changed and to e*tend the same even to poorly developed markets in villages and semi(urban areas by introducing some strategic changes like packaging and pricing. It would not be difficult as the recently developed supply chain management techniques empowers industries to reach easily and in cost(effective way to the remotest area of any place. Some initiative of this nature has already been taken by some consumer goods industries and no doubt these efforts have helped these industries to capture more space and also have helped villagers not only to earn and spend but also to produce and consume these along with people residing in urban and metropolitan towns. However these efforts have led to growth of market for M)!s but have not helped villagers to develop their latent potentiality of becoming full fledged entrepreneur as manufacturer of goods. It is true some of the villagers could develop some supply chain management and retail business in the process. NEED CHANGE IN MINDSET IN FRAMING POLICY It appears there is need for some paradigm change in our policy thinking as well as our mindset particularly of our politicians. In this regard our e*( "resident +alam's vision of providing urban facilities in rural areas ,"-./0 is worth mentioning as this is possibly one such step that would help transforming agri(business potential through knowledge, institution and technology platform. It would therefore need to be multiplied to help spreading knowledge and technology to rural youth. It has to be borne in mind that technological innovations could also emerge in the laboratories of life as rightly pointed out by r. Mashelkar. /ccordingly this has to be stressed in all efforts to re1uvenate rural youth and transform them as entrepreneurs. FOCUS ON DISPARITY IN INVESTMENT IN RURAL AREAS In fact investments made in rural areas though undertaken e*tensively and at times even massive amounts have been earmarked for various rural pro1ects but all these generally have

proven ineffective as most of these are in the form of subsidies, doles and waiver of loans instead of investment in infrastructure development in rural areas. %hese also failed to generate effective delivery institutions and virtually generated highly corrupt institutions manned and fanned by politicians and rural elites. In fact the highly noticeable disparity in between rural and urban infrastructure like roads, transports, power and communication have created the hiatus in economic growth of rural and urban areas. 2ack of infrastructure in rural areas have made private sector also hesitant to develop industries over there. It is true the scene is changing and some new industries are growing in villages or its outskirts. 3ut essentially villages have remained agrarian with low and disguised unemployment. It is therefore high time for policy makers not to introduce employment opportunity plan like .456/. 745)/ ,).860 where unemployed rural youths are either given work of mud lifting or paid even when no work could be allotted to them. %his would obviously make them lazy and some of them even come out to refuse digging mud and to carry the same for dumping at some allotted place. It is difficult to fathom out the type of mindset of politicians who actively advertise such pro1ects and feel complacent and happy as if they have been doing great work for poor villagers. In fact it would not be wrong to state that $the program seemed well designed for bureaucrats and politicians to siphon off money'. NEED TO CHANGE MINSET OF POLICY MAKERS However if something has to be done for rural poor it would be necessary to change the mindset of policy makers and bureaucrats. In fact rural areas should not be considered as agricultural belts and rural youth should not be taken for granted as farmers and artisans only. In fact rural youth like all other youth should be considered as human resource and could be shaped like all other youths as entrepreneurs, innovators, professionals and managers. In fact many rural youth after getting some education have migrated to urban areas and have developed many new business and even industries. It is therefore natural question that would arise in the mind of any rational man what for these migrations should continue and why not such thing could not be done in rural areas. %he answer is not very far to seek. It is the lack of infrastructure that has led to such migration of youth. It would therefore be necessary for government, enlightened institutions and individuals to come forward with pro1ects both agriculture and other sectors including service and manufacturing to provide opportunities to rural youths to work in these village pro1ects and enterprises. MODEL RECOMMENDED In this regard it is worthwhile to keep in mind that there would be some lag in developing village entrepreneurs as there would be dearth of capital to develop village pro1ects and enterprises but this could be dealt with by developing institutional entrepreneurship as is done to meet the capital needs of urban entrepreneurs by creating development banks. However in this strategy also there could be some difficulty as overall supply of individual entrepreneurs and mangers with necessary education and aptitude might not be readily available. It would therefore be imperative that institutions under public private partnership model should be developed to fund and organize ventures to provide services and to manufacture product. Such organizations should conceive pro1ects for compact lands for farming and for clusters of artisans for manufacturing, trade and commerce. States in developing countries have assumed the role entrepreneurs. In some of the developing countries including India some efforts have been made to institutionalize development activities even in rural areas but these have not been specifically assigned the much needed role to act as catalyst for growth of individual entrepreneurs. In fact villagers could have been as good as city dwellers but for lack of infrastructure including education. It would therefore be necessary to hold the hands of villagers for some period and enable them to grow as entrepreneurs and managers without getting the shocks of market and monsoon or such other natural risks for some time as these have created fear psychosis in villagers for generations and obviously they need some time to get over such

psychology and become an entrepreneur rather than remain as fatalist and dependent on doles alms and such other charities. APPLICATION OF RECOMMENDED MODEL In recent years some efforts have been made to hold hands of farmers and artisans by some micro financing institutions particularly in south. "ragati 3andhus in +arnataka is one such model as these groups of marginal farmers named as "ragati 3andhus not only provided hassle free loans to farmers but also physically stayed with them to help them to prepare crop planning along with marketing and technology support. %his obviously a better model than usual pattern followed by micro financing institutions to act as lender to farmers, however to achieve real success it is imperative that these institutions should shoulder the risk of farms and firms in rural areas run by rural farmers and artisans. %he ultimate need is to enable them to get enough confidence and managerial and financial strength to become entrepreneurs on their own. 4nly with such transformation of rural people particularly youth who outnumber others could make India a developed country and decouple her from the present global meltdown. / 2I98 !/S8 S%- 7 of !/)/ /(/ S-!!8SS S%4.7: :,adapted from www.tbs(sct.gc.ca; www.rural.gc.ca; www.google.com 0 Business Devel !"en# $n% En#&e!&eneu&s Small businesses are the source of nearly <= per cent of new 1obs in #estern !anada. %hese are the employment engine of the region. In recognition of the importance of community(based delivery of services and support to Small( and Medium(sized 8nterprises ,SM80 development, western economic development ,# 0 program provided funding to third(party organizations including industry associations and those making up the #estern !anada 3usiness Service )etwork ,#!3S)0, which in turn deliver business services and support to entrepreneurs. %his has obviously led to improved access to business information, training, business advisory services and capital for all western !anadians, including women and francophone entrepreneurs, and people located in rural communities.
%mprove Business Productivity +t provided operating and loan funding to a number of other organizations that in turn delivered targeted loan programs# business advisory services and training for entrepreneurs. +t improved business productivity by addressing the needs of S$<s and entrepreneurs through a number of service delivery mechanisms and partnerships including more than 0DD offices. +t engaged Community volunteers# who knew local issues and could identify business opportunities# mainly helped in achieving success in grooming entrepreneurs and their business enterprises in 1DD/-1DDIJ this organization was stabilized through new# multi-year agreements providing operating support for member Community !utures &evelopment Corporations 7C!&Cs9 &urthermore C&3Cs were floated as a national community economic development program implementation organization that would help people in rural communities respond to local needs. +t has provided operating funding to the C&3Cs since 0CC/ to enable them to provide local strategic economic planning services# business counseling and loans to small businesses in rural communities. BomenAs Enterprise %nitiatives 7BE%s9 ?<+s work to provide customized services to help women entrepreneurs face challenges and succeed. Operating from head offices located in >elowna# Calgary# Saskatoon and ?innipeg# the ?<+s improve access to financing# education and training# business advice# loan aftercare# information# networking and mentoring for women entrepreneurs. !rancophone Economic &evelopment Organi1ations 7!E&Os9# &<3Os enhance the vitality of Official @anguage $inority Communities !O@$Cs" in ?estern Canada and strengthen economic opportunities for francophone business. ?ith head offices in ?innipeg# -egina# <dmonton and ,ancouver# &<3Os provide enhanced services to francophone entrepreneurs# including training# business and community economic development# access to capital# information services# marketing advice# and networking. Canada Business Services Centres 7CBSCs9# The C(SCs provide a single# seamless gateway to information for businesses and maintain an e*tensive database of business and trade information from federal# provincial# municipal and non-government sources. ?estern Canada C(SCs are located in

,ancouver# <dmonton# Saskatoon and ?innipeg and services are also available through a network of regional C(SC and Aboriginal service sites. +n addition to support through the ?C(S # ?3 has undertaken a number of initiatives to encourage S$<s and -N3 organizations to be innovative in improving their productivity and competitiveness. These include lean manufacturing practices !identification of new trends# the development of innovative strategies and the implementation of new processes"# technology and management training and academic and industry internships and e*changes.

Sub-Activity: Access to Capital

A 1DD. Statistics Canada Survey on &inancing of Small- and $edium-sized <nterprises found that 1D per cent of S$<s cited obtaining financing as an obstacle to business growth. Those more likely to e*perience difficulties in obtaining financing included innovative businesses !.D per cent"# young enterprises - defined as those that started operation in 1DD1 !2. per cent"# e*porters !1C per cent" and manufacturers !1E per cent". Through work with financial institutions# members of the ?C(S and other organizations# ?3 has contributed to increased investment in targeted western Canadian firms. +n particular# ?3 has responded with the development of two types of S$< loan programsJ Evaluation 1. WD Loan and Investment Program (previously Program) at7http7MMwww.wd.gc.caMrptsMauditMlifpMic-eng.asp.-source The evaluation found that7 the Loan Investment Fund

4nly >? per cent of 2oan and Investment "rogram loan clients could have obtained financing from other sources; <@ per cent of the small business financing e*perts surveyed indicated that there are gaps in loan financing available to small(and medium(sized enterprises; and ?A per cent indicated that the 6overnment of !anada should influence private sector financial institutions to do lending to eliminate the gaps; and %he 2oan and Investment "rogram does not significantly duplicate other loan programs and services.
@oan loss agreements have been negotiated to leverage additional loan capital from credit unions for rural business lending by C&3Cs in (ritish Columbia. The urban micro-loan# Advice and (usiness @oans to <ntrepreneurs with 3isabilities loan !A(@<3" and francophone !&<3O" agreements provide loans averaging P0.#DDD to very small and start-up businesses.. 2. Developmental loans delivered by the Western Canada Business Service Network and Entrepreneurs with Disabilities Program (EDP) urban delivery agents ?3 has provided ?C(S network members with funds to support repayable loans to S$<s in rural areas# and S$<s operated by women# francophone# young entrepreneurs or those with disabilities. ?3As network members also provide S$<s with path finding services and referrals to alternative sources of financing. )esults for .CCD-.CCE An evaluation of the <ntrepreneurs with 3isabilities )rogram !<3)" and the %rban <ntrepreneurs with 3isabilities +nitiative &und !%<3+" undertaken in 1DD/ is available on ?3As website at7http7MMwww.wd.gc.caMrptsMauditMedp-uediMdefault-eng.asp. +n the evaluation# &erence ?eiker N Company estimated that Othe average <3) and %<3+ loan client generates 1ID#DDD in revenues and I person years of employment over the first five-year period after they receive assistance that is attributable to the assistance that they received.O +n 1DD/-1DDI# total e*ternal financing leveraged by &<3Os was estimated at P1.2 million. The results for C&3Cs in rural areas and ?<+s serving women entrepreneurs are summarized below7

Total statistics above include7 IG loans to entrepreneurs with disabilities# totaling P0.. million and pro4ected to create or maintain 0/I 4obsJ 002 loans to youth# totaling P1.2 millionJ and# 12I loans to Aboriginal clients# totaling PE.0G million.

Program Activity: Innovation

, / innovation process that translates knowledge into new products and services is an important driver of long(term economic competitiveness and prosperity. # investments in innovation are an important building block for creating a diversified economy in #estern !anada. %hese investments support the emergence and growth of technology clusters in key sectors ( such as environmental technologies, life sciences, information and communications technology ,I!%0 and value added resources and contribute to the development and commercialization of new technologies and technology based services and products in #estern !anada.
According to the cluster life-cycle model# most of the western technology clusters are in their earliest formative stages. -ecognizing this# the ma4ority of ?3 investments have been made in knowledge infrastructure and technology adoption and commercialization# which help set the foundation for clusters and future growth. As the clusters mature# investments will address gaps and opportunities and will be connected to markets and collaborative research opportunities with the %nited States through the <-+. (y strengthening the innovation system and enhancing technology clusters# resources such as highly 'ualified personnel !=Q)"# large anchor companies# venture capital# investments in -N3 and knowledge infrastructure are drawn to and developed in the region. &irms in clusters are often active in e*port markets and international supply chains# and contribute to economic growth and diversification by reinvesting in new -N3 activities and creating or retaining highly skilled 4obs. +n 1DD/-1DDI# ?3 approved almost P/1.E million to support the growth and development of technology clusters and the innovation system as a whole. The following graph illustrates this distribution7

?3 works with many partners when developing and funding innovation pro4ects. On average# the department contributes 22 per cent of the costs of an innovation pro4ect. &or innovation pro4ects approved in 1DD/-1DDI# ?3 support will leverage funding of P0.I.. million from other sources.

Sub-Activity: Technology Adoption and Commercialization

Technology commercialization ultimately occurs in industry. ?3 supports all phases along the technology commercialization continuum from support to organizations such as university technology transfer offices that identify# protect and license technologies to support that encourages technology adoption and adaptation. +ncreasing investment and support for the commercialization of new technologies in ?estern Canada is a priority for ?3. The departmentAs work in this area has led to broad results including an increase in the number of technologies developed in research institutions that have commercialization potential# as demonstrated by intellectual property !+)" protection# licensed to an e*ternal user# or form the basis for a new company. The ultimate goal is to bring new products and services to the marketplace. +n addition# ?3As efforts have led to increased technologies adopted by e*isting firms.

Su'(A)#ivi#*+ Te),n l -* Lin.$-es

Through its work in innovation# ?3 has increased connections and synergies among innovation system members through new partnershipsMnetworks# collaboration# and conferences to e*change information and increase awareness.

Sub-Activity: Technology Research and Development

To support technology -N3# ?3 has invested in applied -N3 leading to a new product or process that will have a near or midterm commercial potential. This has resulted not only in applied -N3 leading to technologies with commercialization potential# but also support for the operating or increased capacity of -N3 canters and increased availability of skilled personnel

Sub-Activity: Community Innovation

+nnovation at the community level can identify new opportunities and enhance the viability of traditional sectors. ?3As support for community innovation in 1DD/-1DDI resulted in planning studies used by communities as a tool for economic development# increased capacity in communities based on the generation of new knowledge# and community businesses adopting new technologies.

Su'(A)#ivi#*+ Te),n l -* S.ills Devel !"en#

%nder this sub-activity# ?3 supports pro4ects that increase training# education and skill building in the new economy sectors. ?3 has contributed to several initiatives that increase the number of 'ualified individuals in the field and build linkages with industry.

Su'(A)#ivi#*+ Kn /le%-e In0&$s#&u)#u&e Inves#"en#s in .n /le%-e Infrastructure provides the foundation for technology clusters. # Bs investments in this area have resulted in increased physical assets for .C andDor training and new investments to the field.

CONCLUSION It is obvious therefore that the present lag in entrepreneurial development in rural areas in India could be overcome if institutional entrepreneurs under public private partnerships are formed. %his would not only help in risk minimizing but also in risk sharing and that would help risk averse rural youth to undertake business and farming with more gusto and less fear. It would make them also real entrepreneurs after they start tasting success in their enterprises 1ointly managed with state partnership. In the process they would also be groomed as better managers under the enlightened and better educated e*ecutives drawn and recruited by the state....

Sunil Bharti Mittal, born October 23, !"# is the $hairman and Managing %irector o& the Bharti group' (he )S% " billion turnover compan* runs India+s largest ,SM-based mobile phone service'

(he son o& a politician, Sunil 3ittal is &rom the town o& -udhiana in .un/ab' 0e has built the Bharti group, along with two siblings, into India+s largest mobile phone operator in /ust ten *ears' 0e has been $hairman 1 Managing %irector o& Bharti ,roup since October 222 ' 3esiding in %elhi, he is married, with three children' A &irst generation entrepreneur, he started his &irst business in !#4 at the age o& 5, with a capital investment o& 3s 22,222 borrowed &rom his &ather' 0is &irst business was to make cranksha&ts &or local bic*cle manu&acturers' In !52 he sold his bic*cle parts and *arn &actories and moved to Mumbai' (he importing o& telecom e6uipment was banned b* the Indian ,overnment as I(I 7Indian (elecom Industr*8 monopol* practices 1 sole O9M &or %epartment o& (elecommunication' 0e established the &irst compan* to manu&acture push button telephones in India' 0e was one o& the &irst Indian entrepreneurs to identi&* the mobile telecom business as a ma/or growth area and launched services in the cit* o& %elhi and the :ational $apital 3egion in the *ear !!"' Awards Sunil has received several awards including; (rans&orming India -eader, :%(< Business -eader Awards 2225' ,SMA $hairman+s Award 2225 .adma Bhushan in 222#, &rom the .resident o& India Asia Businessman o& the =ear, >ortune Maga?ine 2224 (elecom .erson o& the =ear, <oice 1 %ata, 2224 $9O o& the *ear 222", at the >rost and Sullivan Asia .aci&ic I$( awards 2224 Best Asian (elecom $9O, (elecom Asia Awards 222" Best $9O, India, Institutional Investor, 222" Business -eader O& (he =ear, 9conomic (imes, 222" 9rnst 1 =oung 9ntreprener O& (he =ear 222@, 9rnst 1 =oung

Sunil Bharti Mittal is the >ounder, $hairman and ,roup $9O o& Bharti 9nterprises, one o& IndiaAs leading business groups with interests in telecom, retail, &inancial services, realt* and agri-products' Bharti Airtel, a group compan* o& Bharti 9nterprises, is among the leading global telecom services providers with operations in Asia and A&rica' Bharti has /oint ventures with several global leadersB Singtel, Cal-Mart, ADA and %el Monte' Sunil started his career at 5 a&ter graduating &rom .an/ab )niversit* in India in !#4 and &ounded Bharti' (oda* he heads a success&ul enterprise which emplo*s over 32,222 people' Bharti Airtel, the &lagship group compan*, has a market capitali?ation o& over )SE 32 billion' Sunil has been recogni?ed with the .adma Bhushan, one o& IndiaAs highest civilian awards' 0e has also been con&erred the -al Bahadur Shastri :ational Award &or 222!' 0e is a member o& the .rime Minister+s $ouncil on (rade 1 Industr* and serves on its Sub-$ommittee on .romoting >inancial Inclusion' 0e served as the .resident o& the $on&ederation o& Indian Industr* 7$II8, the premier industr* bod* in India 7222#-258' Sunil has been awarded the ,lobal 9conom* .ri?e 222! b* (he Fiel Institute, ,erman*' (he )S-India Business $ouncil has also honored him with G,lobal <isionA Award 2225' 0e has received the ,SM Association $hairman+s Award &or 2225' In 2224, he was chosen Asia Businessman o& the =ear b* >ortune and Asia .aci&ic $9O o& the =ear b* >rost 1 Sullivan' Sunil has been named Business -eader o& the =ear b* several important media houses, including (he 9conomic (imes, Business Standard, and :%(<' 0e was the 9rnst 1=oung 9ntrepreneur o& the =ear in 222@' 0e is also a member o& the Academ* o& %istinguished 9ntrepreneurs, Babson $ollege, Cellesle*, Massachusetts' Sunil was $o-chairman o& the Corld 9conomic >orum at %avos in 222# and is a member o& its International Business $ouncil' 0e is a member o& several premier international bodies H Board o& (rustees o& the $arnegie 9ndowment &or International .eace and the -eadership $ouncil o& (he $limate ,roup' Sunil is also on the (elecom Board o& the International (elecommunication )nion 7I()8, the leading ): Agenc* &or In&ormation and $ommunication (echnolog*' 0e is a $ommissioner o& the Broadband $ommission at I()' 0e is a member o& several business &orums including the India-)S $9O >orum, India-)F $9O >orum, India-Ital* $9O >orum, India- Iapan $9O >orum and India- Sri -anka $9O >orums' Sunil is associated with several world-class academic institutions - member o& the Board o& ,overnors o& Indian Institute o& Management 7IIM8 AhmadabadB member o& the 9Jecutive Board o& the Indian School o& BusinessB member o& the ,overning Bod* o& -ondon Business SchoolB member o& the %eanAs Advisor* Board o& 0arvard Business SchoolB member o& the $ambridge India .artnership Advisor* Board' Sunil believes that a responsible corporate has a dut* to give back to the communit* in which it operates' (his belie& has resulted in Bharti >oundation, which is operating 2@2 primar* schools and " Senior Secondar* Schools catering to over 32,222 under-privileged children in rural India' Sunil was ranked among the (op 2" .hilanthropists in the Corld in 222! b* the BarronAs Maga?ine' Sunil has been con&erred with the degree o& %octor o& -aws 70onoris $ausa8 b* the )niversit* o& -eeds, )F and the degree o& %octor o& Science 70onoris $ausa8 b* the ,ovind Ballabh .ant )niversit* o& Agriculture 1 (echnolog*' 0e is an 0onorar* >ellow o& (he Institution o& 9lectronics and (elecommunication 9ngineers' 0e is an alumnus o& 0arvard Business School, )SA'

Sunil (harti $ittal is the biggest name in +ndian telecom. The man who built the brands of O(hartiO and OAirtelO and made them household names. The fact is that he has built a massive business empire from almost nothing. Today# Sunil $ittal6s sprawling corporate office is in the shadow of the Qutub $inar. The positive undertone hits you as you enter the office. Satisfied employees are seen everywhereJ probably this is the business secret of the great Sunil $ittal. Sunil6s parents were of different castes# which created uproar at that time. They were forced to adopt the surname of O(hartiO !they gave up their family name of $ittal as they were ostracized by their community".

(ut later on# Sunil reclaimed their family of O$ittalO# and came to be known as Sunil (harti $ittal. SunilAs father was a $ember of )arliament# had always been in public life. (ut right from a young age# Sunil wanted to create a big mark for himself in the world of business. ?hen he was 4ust 0G# he started a small factory manufacturing cycle spare parts in @udhiana. =e did this by borrowing -s.1DDDD as capital. The business began to grow slowly and steadily but SunilAs sights were on something much larger. After a few years# he shifted his base to 3elhi. =e started operating from 3elhi and $umbai# which had become the nation6s commercial capitals. =e was conducting the business of importing products from abroad# and distributing them in local markets. +n 0CG2# Sunil set up his first company# (harti =ealthcare# manufacturing capsules. (ut the break that Sunil was looking for came to him in a totally different and une*pected dimension.

At that time# the +ndian government wanted to encourage indigenous manufacture of goods within the country itself. As a result of this# import of many products was banned# and this opened up a world of opportunity for +ndian entrepreneurs. Sunil was 'uick to identify this# and move forward. The telecom revolution was beginning# with push button telephones being introduced in the country. Sunil saw the opportunity and set up a facility to manufacture push button telephones in +ndia. This was 4ust the beginning# and the group moved into manufacture of Cordless phones# answering machines# fa* machines and others# soon after.

+n all these product segments# the (harti group had been the first to launch them in +ndia. (ut Sunil $ittal6s vision was wideJ he knew that the +ndian economy was at the threshold of becoming one of the largest emerging economies in the world. +n the early +CCDAs mobile phones were slowly becoming popular in the world. Once again Sunil seized the opportunity and dived headlong into this business. The (harti group launched the 9Airtel: brand of mobile telephone service in 3elhi in 0CC/. Today# the Airtel brand is the biggest mobile phone brand in the country. SunilAs foresight paid off# as the (harti groupAs telecom business# worth -s.01DD crores today# put him in the bracket of the richest people in the world. Once when asked what he would attribute his success to# Sunil replied# O-ight from the beginning# ours was never a trading or money making mentality# but of wanting to be recognized in our field and to establish a corporation. ?e did things never tried before in +ndia. ?e are very fair to the people we work with !suppliers# buyers# staff". ?e wanted to prove that even with meager capital we could do big things. ow a corporation# we are working to make it an institution.O An e*cellent initiative in the (harti management is that all employees own stocks of the company. They# therefore have a sense of belonging. There is no Oowner-workerO kind of feeling that prevails in the (hartiAs corporate environment. And the popular O=ire and &ireO policy does not e*ist in his company either. So each individual is motivated and works towards the common goal including his ones. Sunil has not neglected his role towards society. The (harti group is conscious about their social obligations and has set up the O(harti &oundationAA# which works towards furthering the cause of education. +n $adhya )radesh# they have funded over /D schools# which are in rural and semi urban locations. They have also donated -s. 1D crores to ++T 3elhi for building a (harti School of Technology and $anagement.

On the personal side# Sunil is an ardent family man. =e has a daughter and twin sons. =e spends 'uality time with them whenever he can spare time from his hectic schedule. =e meditates and chants mantraAs every morning# besides yoga and e*ercise. =e once said 9=aving a positive frame of mind can help overcome e*tremely bad situations.: Amid all this pressure# how does he rela*K 9+ used to play golf before# now sometimes + play tennis. (ut + thrive on my work. &or me# work is love# not stress. (ut + wonAt say thereAs no stress. As you come to the top of the pyramid# the intensity of competition# of 4ealousy# is high#: says Sunil (harti $ittal. In 5uly @==?, Sunil attracted many key e*ecutives from .eliance / /6, )IS Sparta and created 3harti !omtel. In )ovember @==?, he struck a 1oint venture deal with #al( Mart, the -S retail giant, to start a number of retail stores across India. %oday, the 3harti group has a turnover of -SEF billion. 4n &ebruary >G, @==<, Sunil 3harti Mittal was awarded the 6SM /ssociation !hairmanBs /ward @==<. %his /ward, which is the highest honour in the global telecom sector, was conferred on him for his tremendous contribution to the development of India's telecom sector. %ruly, his vision has transformed the lives of millions across India.