Domination December 2012

DOMINATION
NEWSLETTER FROM DEPARTMENT OF MANAGEMENT STUDIES, IIT ROORKEE
VOLUME-III ISSUE-06
DECEMBER 2012
Editorial
.
Dear Readers, It is December, a month of Holidays and festivals!! As we are gearing ourselves for XMas and new year celebrations (particularly when Mayans were proved wrong), we are also looking forward for a new 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 inof quiz section for quiz maniacs and also a beautiful poem by Mr. Ashish Aggrawal. On the other hand, it contains interview of the Mr. Jitendra Solanki. Mr. Jitendra Solanki belongs to the very first batch of DoMS which came out in
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 months edition features a lot of articles from a diverse range of topics. The cover story for this edition is a very
teresting point of discussion.

Any new development related to taxes generates a lot of curiosity. Mr. Abhay Kumar, presents another thought provoking piece about Taxes & GAAR and its possible impact. This Domination edition also covers an appealing piece from one of
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
relevant topic Industry Interaction in Educational institute by Mr. Rohan Krishnan. The author analyses the gaps in industry-academia relationship in Indian context and suggests ways to improve the scenario. We also have another topic which is very close to Indias
our own alumni Mr. Amitesh

from 2002-04 batch. The author 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
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 ! ! !
02 | Domination, December 2012 Department of Management Studies, IIT Roorkee
Contents
Editor
Anurag Agrawal
08 04
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
Sustainable Growth To do List 2013-I Industry Interaction GAAR
28
15
20
12
Designing Team
Ritesh Kumar Sabhariswaran P Saurabh Patel
Smile DoMS Spotlight
Qutopia
21
26
DEPARTMENT OF MANAGEMENT STUDIES INDIAN INSTITUTE OF TECHNOLOGY ROORKEE
23
Success Story
Roorkee - 247 667, India Tel: +91-1332-285014, 285617 Fax: +91-1332-285565 Email: domination.doms.iitr@gmail.com
DoMS da Evince
Cover Story .
Industry Interaction
Educational institutions today play the role of a factory soft skills of the candidates that the companies actually look With all these changes the demands of industries today also
involved in the production of

highly skilled manpower for the benefit of the industries. Academic institutions have constantly 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 qualifications are merely used as tools to distinguish candidates' eligibility at the entry level, while it is the industrial proficiency and
for. Hence a symbiotic marriage between the industry and educational institutes has become 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 daily basis in the industry. The world has now become a global village. The technological revolution has taken a firm grip on every aspect of life.
keep changing rapidly. In order

to meet these demands a regular, long term and concrete association 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 reasons for this would have to be economic liberalization. Economic liberalization has brought about increased competition with the entrance of new private companies in the market.
Perspective | Chlorophyll | Qutopia | DoMS da Evince | Success Story | Regardez Ieconomie | DoMS Spotlight
Industry Interaction . It has become The sur- through continuous activities ness amongst students about
vival of the fittest where industries have to keep innovating in order to stay ahead of the competition. Thus industries need quality and innovative manpower who can think on their feet and according to the given like Guest lectures, Industrial visits, case studies borrowed from actual industrial situations. To provide Students with facilities for industrial training and the opportunity to the latest in technology, expectation from fresh graduates and the various industrial processes and safety measures used. These could be done intermittently. 2. Seminars could be organized
situation. Thus it is very important for both technical and management institutions to produce graduates that the industry requires. This would be possible only if the institutes are well apprised of what the industries require and this will only happen through a continuous interaction between the two. Goals of the Industry- Institute Interaction. The broad goals of this interaction are stated below: To improve on the existing post educational graduate programs which both at the under graduate and level
work on live projects being undertaken by industries under the supervision of faculty and the professionals. To provide an exchange of personnel between the institute and user organizations. To undertake joint projects on research and development, using resources from both sectors for the benefit of society and the indigenisation of national economy. 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
on a regular basis which could

see active participation from experts in the industry and faculty from institutions having similar interests in the fields of research and development. This could expose all the activities 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 topics which will improve the quality of graduates and better equip them for the challenges they will face when they enter
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 competence of both students and faculty in educational institutes
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-
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 . which would help them to get stitutes has suffered a serious feeling and become one with
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 experisetback due to the nonthe goals of the institution. They should work in unison towards building a rapport with the industry. This can be done by responding holistically to the needs of that particular industry. This is a gradual process 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.
ence and exposure. It is important that the institutes in collaboration with the industry organize training sessions depending on the seniority of faculty. This would enable to faculty to improvise on their teaching techniques and make it more pragmatic. This would make the experience more enjoyable for the students and would help them relate and apply what they have learnt to face corporate challenges. Like every other model there are some hindrances to this model as well. These obstacles often inhibit a linkage between the industry and edu-
Most diploma universities do

not encourage faculty towards industry interaction. Continuing education programs for working professionals and student evaluation with the inclusion of experts from the industry are also largely missing. Many institutes do not have a deliberate policy to encourage among teachers the culture of innovation, research and practical problem solving. This nonchalant 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-
and cannot be done overnight.

It is important for everyone from both sectors to be involved 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 industries to discard all preconceived notions that they have about the lesser known institutes and work with them on improving their methodologies and thus the quality of students that they churn out. It is
cational institutes. Curriculum

in most institutes is examination centric and often important concepts which would prepare a student for the industry are left out. The attraction for teachers to join various technical and management in-
tutions which prevent interaction with the industry. The question then arises as to how institutes can overcome such hindrances to make the link stronger? It is important that all faculty members put aside their personal
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 Institutes: It would help teachers
Industry Interaction . familiarize themselves with the up with solutions for the same. technology.
latest products manufactured and processes used by the concerned industry which would help them prepare students better for such industries. It would help institutes orient themselves with the new and emerging areas of technology in industries. It would allow institutes to relate theory to practical situations which would help them deliver a better educational experience for students. It would enable them to be more aware of the job responsibilities of graduates in Fair insights into the working They could benefit from innoenvironment of industry help students in understanding the relevant trade with all its complexities and make better career-related decisions. Programs such as Industry sponsored R&D and PG programs, Consultancy programs in the industry, Training of faculty members in the industry and continuing education programs for industrial personnel, In plant training and industrial projects to students, apprentice training and revamped placement activities could all vative research and development work carried out by academic 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
the industry.
Benefits for the students: The subjects would be made a lot more practical which would make them interesting. Simultaneous application 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 helpful for budding entrepreneurs. It would enable them to assimilate real world problems to different sectors and come
help in making the bond

stronger. Benefits to Industry personnel: It would help enthusiastic personnel the opportunity to have higher education in their field of work which would help them innovate and improve on their productivity. It would give them a better understanding of imported technology and advanced techniques which would help them solve problems with greater efficiency. It would show them new ways to develop indigenous
only care about getting into the

best institutes and the best institutes only care about the grades they dish out to students. In this race the importance and quality of education 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 struggling to find employment. It is interesting to see where this link is heading. It is important that institutions cater to the changing scenario of
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
corporates themselves. Continuing education would be another important factor as has been mentioned before. In todays day and age
industry plays the role of a partner in determining policies, course material and prescribing the characteristics of teacher appraisal and development,
bands of the manpower spectrum. The programs offered should cater to all domains be it technology, finance, communications, human resource, operations etc. Higher level courses like business programs and engineering should allow enrollment of students from different streams as this allows students to share their experiences 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
with policies of companies

changing rapidly it is very important for all employees and technicians to constantly be updated. This would be beneficial to them and to the industry they are a part of. It is important that institutions take the initiative in organizing such programs to help industry personnel. 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
admission of students and certifications etc. Although this has been undertaken on an experimental basis in some states a major breakthrough in actual implementation has not been made due to government regulations. This is likely to change due to the effects of economic liberalization. So far all attempts to make education relevant have been aimed at treating the organized industry as the totality of the world of work. We have failed to recognize the needs of
Industry Interaction . the unorganized sector which economic development to about time we take a more
provides livelihood for the majority of the countrys population and has the potential of opening avenues for employment and self-employment to appropriately trained students. This would also help in take place in our country we need to ensure that our institutes churn out quality graduates who would be able to apply the education that they have received; to different walks of life. According to surpragmatic approach to this issue 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-
the overall socioeconomic development of the country. It is very evident that in todays day and age industry institute interaction is of utmost importance. In order for socio-
veys India is one of the highest

producers of graduates in the world. In spite of this achievement we are still known as a developing nation. A change must be brought about. It is
tween educational institutions

and the industry is bridged. A little effort today will make for a better India tomorrow.
By Rohan Krishnan DoMS, IIT Roorkee - Batch 2012-2014 krishnan.rohan@gmail.com
Perspective
GAAR
The government is reviewing the tax treaty with Mauritius and this raises several questions. Why a small country having a population of just over 1.2 million have such an impact on Indian policy. Investigating further I came to know of an interesting fact that of total $47 billion FDI in Indian 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 companies for Merger & Acquisitions nant player. One must note that Tax avoidance is not an illegal action. 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 organization uses the tax treaty
market in 2011-2012, Mauritius alone contributed nearly one third of total inflows!! Below data from RBI shows the FDI figures for various years. Second statistics from the Ministry of Commerce & Industry explains the share of different
and
financial
transactions
between the two counties for

tax avoidance. On the other hand, Tax evasion is an unlawful act and is the result of illegality, suppression, misrepresentation and fraud. To prevent such episodes in the future, Indian government resp-
(though tax saving seems to be prime objective) but they also bypass complicated administrative system by doing all the transactions in foreign countries. This somehow explains why Mauritius is such a domi-
GAAR
-onded with GAAR the General Anti-Avoidance Rules which gives authorizes the Income Tax Authorities of a country to invalidate any business deal or agreement which do not have any commercial interest other than achieving the tax benefit. Vodafone is
big deal. For years, tax avoidance 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 increased. India had an age old tax treaty with many coun-
finally introduced by the Finance 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
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 France, GAAR in 1981. Canada, New Zealand, Germany, USA, China all has GAAR in place in different form. India is a developing economy where getting foreign investment is a
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 provision in GAAR which covers all the tax haven countries. In India, General Anti-Avoidance Rules (GAAR) was introduced first time in the draft Direct Taxes Code in 2009. Thereafter, a modified version formed part of the Direct Taxes Code Bill, 2010. GAAR was
tax code.
2. If the agreement lacks commercial 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 impeccable they have the power to invalidate 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.
GAAR . 3.They can disregard any ac- development index. We are ment destination.
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 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 The way forward is not to hand over all powers to authorities otherwise this could result in a large number of legal battles or worse decline of India as an investment destination. One way to incorpo-
through an arrangement by
disregarding 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 being, should any policy or law which hampers foreign investany corporate
of FDI in gross capital formation should be increased from 2.1 % to 24.5%. In order to attract more investment we have to substantially improve our infrastructure and eliminate the bureaucratic barriers, not the other way around. India requires huge investment in power generation, telecom-
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 before implementing such thing. When the government itself is putting all efforts to attract FDI by increasing the FDI limit
ment and development is required 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 phenomenal in the last decade but we still rank 134 on the human
munications and other physical 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 Indias image as an invest-
in many sectors (Retail, Aviation, and Insurance), GAAR should not be seen as an act to restrict or discourage investors. Any guard should only be seen as a saviour not the devourer.
By Abhay Kumar DoMS, IIT Roorkee - Batch 2012-2014 checkabhaykumar@gmail.com
Perspective .
My To-do List for 2013 - I

Let me dispel any confusion right away. This is not a piece of motivational literature. would go down to that of a polar bear showing up at my doorsteps in pink slippers. So, I you in a Monday morning round-up and you drop the recession bomb on him.
In the spirit of honesty and understatement, let me confess right away that my motivational skills are rather pedestrian and I could never be so heartless as to disturb those smugly ensconced in their own bubbles 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
have decided to call it my to-do

list for 2013. Down to the brass -tacks now : Learn to become a Recessionmonger. Yes, Sir. You got that right! One buzzword that stubbornly 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 beleaguered employees. Imagine when your Boss is humiliating
Boss: I am the green jelly monster. You want to keep your job, get me the bloody revenue. 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...Whats that new Job portal you were mentioning the other day? It could work - much to your amusement and to others annoyance - on everyone.

In a moment, your boss could transform from a roaring gorilla into a farm animal that knows its next to the anvil. Imagine the damn feeling, even Marques de Sade would feel proud. As a result, I have imbibed so much about recesnow bound to dilute and so is my interest. Be the loudest of the employees 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 have to go to everyone, just shout your point across to your corner-buddy. Tops. I know some people are inherently brilliant at this while others like me need to put in a lot of practice. And the practice may include checking my voice
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. Wont buy an iPhone5. My sincere apologies to you Late Mr. Jobs, but this is true. iPhone - the ultimate epitome of sophistication and elegance; a device that can shoot your social currency to stratospheric heights overnight doesnt feature on my shopping list. I have decided to put a selfapproved embargo on the pur-
likes of Dilbert and co. to

shame. See, the point here is to get attention and impart a serious reflection of your penchant 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 manner, 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
inflexion every day, eating a

lot of vitamins, doing a few mock-ups etc. Always remember, 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 anchors 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? Its not that I ever buy or sell my stocks on their recommendations. Candidly, I am sick and tired of the B.S.
chase of this device. Reason is

simple. I can pretty much foresee 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
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 didnt get the picture? Its simple. You dont
garbed in the attire of sound

advice. See, a majority of these stock analysts desperately loves being on TV week in week out. Youd never see these geeks recommending the audience to hold on to good stocks for the next 3-5

years, let alone for longer periods. How could they? Doing so could seriously curtail their chances of getting crucial airtime every week, thus, jeopardizing their rise to financial stardom. To be fair, one huge drawback of being on a financial 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. Nevertheless, it is one aspiration I have held for long and its on my to-do list, too
By Amitesh Jasrotia DoMS, IIT Roorkee - Batch 2002-04 amitesh.jasrotia@gmail.com
. Smile
Its wise to learn, its GOD like to create
Chlorophyll
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 dont 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.
By Ashish Aggarwal DoMS, IIT Roorkee - Batch 2012-2014 ashish_ar122@yahoo.com
Qutopia
Its Exquizite, Kills your Quriosity and adds to your Quizdom. Need we say more? Qutopia A Utopia of the 31st Decemeber, 2012. The winner will have their names published in the next issue. Also, person getting the
best Biz Quiz Tidbits to wreck your brains! Rush in your answers to domination.doms.iitr@gmail.com before
highest score in the current quarter (Jul-Dec 2012) will get a gift voucher. Answers in the next issue of DoMi-
nation.
(1 Point for each correct answer)
Section A
1) Bringing Energy to Life is related to which company? 2) The of an asset based on its original purchase cost, minus depreciation, amortization 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?
Qutopia Section B .
(2 Point for each correct answer)
ID the Logos
A)
B)
C)
D)
Answers to Oct12 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 September 17, 2011 in Zuccotti Park, located in New York Citys 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 Winner of Qutopia (October 2012) Kamal Deep, DoMS IIT Roorkee Batch 2012-2014
DoMS-da-Evince
Mr. Jitendra P. Solanki is Founder of JS Financial Advisors, a Financial Planning 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 experiences.
1. Could you elaborate on your

career path and the reason behind this choice? Response: I have spent 10 years in Financial Services industry working as an Investment Advisor. I have been associated with various Banks, Wealth Management Companies and few stock broking firms. My last assignment was with a stock broking house in Delhi where I helped the company in setting up their financial product distribution. During my career as an employee, I realized that there was always a need for the right advice to consumers but no one
It was in early 2000 that Financial Planning profession came in India and I decided to move my career in the right direction. In 2010 I finally got my CFP certification. Even then there was a dearth of companies who were hand holding their clients as a Financial Planner. So I preferred to work on my own and launched my financial planning services. I am moving forward now to establish myself as Practicing Financial Planner assisting families and coaching them to take the right financial decisions for their future. 2. Could you give us a brief description of your company?
Retirement, Insurance, Investment, Portfolio Review and Consulting. One of the niche services we have added recently is Financial Planning for Families of Special Children in association with other professionals in the concerned area. 3. Could you elaborate on some of the training programs offered by your company? Also could you elaborate on the niche service started by your company for families with special children? Response: We offer trainings on personal finance aspects to almost all sections of society via students, corporate em-
was offering it. Most of the financial institutions were heavily focused on their earnings rather than being customer centric. This was a huge dissatisfaction and which lead me to look opportunities to do Comprehensive Financial Planning.
Response: JS Financial Advisors specializes in fee based comprehensive financial planning services to people across the globe. For meeting needs of various individuals it also offers services on various elements of financial planning like
ployees,
professionals,
and
even financial advisors. These training programs focus on understanding issues related to money management and what is the process one should follow while managing their finances. We also conduct one
DoMS-da-Evince . individuals/families addressing of the concept and should be sion in the minds of people and
their concern related to money matters planning. Niche Services: Families with Special Childrens find it difficult to manage their finances since they have to plan for two generations- Special child and willing to put clients interest first. Since your advisory becomes the base of your clients future, your ethics and professionalism will ensure you deliver the right services. CFP or Certified Financial Planthey 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-
rest of the family. Also the special child's future is a grave concern considering he/she may be life- long dependent and there are hardly any benefits from the government. Since I had a family member who has been working with these families 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.
ner is the highest professional

course in Financial Planning. Although there are more advanced courses too in countries like US, India has just seen the entry of CFPs. There are individual courses too respectively for various financial products, but for a complete comprehensive financial planning, CFP is the right course to pursue. 5. What are some of the challenges faces in your field and the best ways to overcome them? Response: The biggest challenge in financial planning profession is low awareness. In our country we are not used to pay
ous activities like corporate

presentation, meetings, seminars, 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 individuals and companies need to take care of while designing their financial plans, Investment and insurance? Response: When it comes to managing personal finance, most individuals make common
4. What are some of the characteristics required for a profile in financial advisory? Any courses in particular which are important for this purpose? Response: To become a successful financial advisor one should have a good knowledge
for advice and have been making 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-
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 misunderstood as either an investment advice or a one time exercise.
DoMS-da-Evince . If you are creating a compre- ally. Response: When you are
hensive financial plan you cover all elements of your personal finance. It starts with analyzing your financial health and identifying your exact requirement. This gives you a clear picture about your existing situationHowever, the most important 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. young you are at the right stage to plan for your future primarily because your risk appetite is high and you develop your spending habit. You have a good time horizon for most of your goals which helps you in
Your cash flows, liquidity problems, 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 alternatives to bridge the gap. Based on your financial situation, you design a financial planning strategy to implement the chosen 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-
Through a review process, you

are able to easily accommodate 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 planning. 7. For students like us or generally people in the age group 20-30 looking to start a family, what things should be kept in mind while going for an insurance cover for self and family?
optimum utilization of your resources. The priority in financial planning approach is planning for contingencies. Job Loss, emergency hospitalization, 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, its necessary that you do a detail insurance planning to avoid any dissatisfaction. The biggest advantage at a young age is that you are able to avail high insurance coverage with minimum outages.
Success Story
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 company. Below is the summary of the encounter we had with him.
It is not often that an institution is graced with the presence of an eminent person from the industry like Mr. PradipBaijal. The Department of Management Studies recently had one such opportunity. We were lucky to have had the op-
where he has had a hand in writing the regulations for the same. He has also served as a visiting fellow at Oxford University for a year on privatizations and reforms. Prior to being appointed as the Chairman of TRAI he worked as a Secretary
boards of IOC and IDFC. He also served as the Chairman of an Advisory Committee to the Petroleum and Natural Gas Regulatory Board in India. He has been giving lectures on Indian regulation, restructuring, business environment etc. to man-
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
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 Tatas and RIL, besides many MNCs, Indian companies, multilateral institutions
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 concentrating on writing a book on the fascinating India Unwired, with a Professor in USA..
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
like the World Bank, International Telecommunication Union (for restructuring telecom sector in many developing countries). He was on the Boards of Nestle, GVK and Patni Computers and advisory
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 valuable advice as to how a career
Success Story
path is to be planned. He also shared his views on the future of the Telecom industry. He stressed on how important it is for business schools to work in collaboration with universities in the west or in Europe. Mutual benefits could be obtained from 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 followed this session. 1. Among all the positions you which would benefit both the administration and the Naxals, rather than go for a high handed 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.
this venture according to him.

Such an interaction is always beneficial for the Indian counterpart. He cited the example of IIM Ahmedabad and now the institution has benefited from its interactions with various universities from the United States. As a country he also
have held during your illustrious career which has been the most challenging of them all? Response: Among all the positions Mr. Baijal has held, his tenure as District Magistrate of the undivided Bastar in Madhya Pradesh (an area larger than the state of Kerala) was the
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 solutions and hence he feels the success of Operation Green
stated that instead of continuously trying to emulate practices 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 multicultural and populous just like India is. The problems faced in
most challenging. This was at a

very young age of around 30, where he encountered the emergence of Naxalism. According to Mr. Baijal, Naxalism is caused more by the Government than the Naxals themselves. He always believed that such problems should be solved in an amicable manner.
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 revolution? Response: According to Mr. Baijal, the situation in India is very grim. He expects a radical
both countries are similar. He

stressed on the importance of generating power by constructing more dams. According to Mr. Baijal India has a cornucopia of untapped locations where dams could be erected.
Meetings
with
the
Naxals
change but says that it is difficult to pinpoint the course India would take, at the moment. He further stated that the Government is run not only by politicians but also by bureaucrats who are some of the
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 trying to come up with a solution
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 addressed that India will have a brighter future. According to him, even the brightest minds are mostly in need of direcencouraging 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 forward is utilizing hydro energy and nuclear power. We have a 6. India is a country where sunlight is freely and abundantly 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-
tion, which sometimes the politicians do provide. 4. How do you view the disinvestment of public sector companies in the post liberalized economy? Response: According to Mr. Baijal, the disinvestment of public sector firms, and re-
cornucopia of Thorium deposits in Kerala and Uranium deposits 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-
velop as a viable source in

some years. 7. Could you tell us a bit more about the book you are currently working on? Response: It is called India unwired but thats all I will say about it. To find out more you will just have to read it. This is
forms, are a boon for the economy as privatization is the best way forward to improve productivity of industry and economy. The most apt example that he cited was that of the telecom sector. The explosive growth of telecom density after the entry of the private players shows that a higher
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 misguided environment bottlenecks. Lack of adequate and reliable power supply leads to
about the new model of telephony and broadband, developing in India. 8. What kind of advice would you give students and teachers from B-schools all over India with regards to what is expected from the corporates? Response: According to Mr. Baijal, Even though most insti-
amount of efficiency and effectiveness 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
poor productivity which in turn

affects the economy which leads to increased unemployment and poverty. If this problem is to be eradicated we must first start hydel sources of energy.
tutions today are well endowed

with the requisites for carrying out day to day businesses, it is the extra steps that the institute takes which separates a good B-school from an average one. This requires collaboration
Success Story
from both the instructors and the students. The best way for a B-school to get itself recognized is to establish links with prominent institutes in the developed world. This kind of interaction promotes the right kind of learning among students which enables them to nology would make its appearance 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 bandwidth much higher. Speeds would be phenomenal. The cerned prepaid contracted power delivered on open access, already provided in the Electricity Act/rules/ poliregulations/government
cies, yet very inefficiently implemented, will be the next big thing. This would ensure that power is delivered efficiently,
be more pragmatic in their approach. These are the kind of students looks for. 9. What do you see in Indias future? Response: After Web 1.0 and Web 2.0, the age of Web 3.0 is fast approaching. The introducthat the industry
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 network, mostly moving towards unified and converged licensing ensuring much better utilisation of scarce resources in
and used judicially. IT would

also minimize the power cuts that most people in our country 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
tion of Web 3.0 will create a

tectonic shift of sorts. Research methodologies would be transformed completely. This would be a lot more interactive and online businesses would pick up to a great extent. This tech-
these
networks,
particularly
shared with the ever so grateful students from the Department of Management Studies at IIT, Roorkee. After this interaction the only thought in my mind was that I wish we had more time.
spectrum, and giving the freedom to operators to innovate at a much higher plane, rather than the Government micromanaging inefficiently. As far as the power sector is con-
Regardez Ieconomie
Sustainable Growth
Often said as an economic powerhouse, India has sustained a rapid growth in the last two decades. During financial crises in 2009, many stock markets collapsed and even the wealthiest of the world nation could not rescue their economy. India, though affected, recovered quickly and impact of the Reserve Bank of India. Indian economy is primarily driven by domestic sources unlike other nation. Since Independence, Indian economy has been a protectionist and regulated economy. In 1990, liberalisation was introduced in India which changed the face of Indian 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, India on one hand is succeeding brilliantly while on the other is failing miserably. Many Indians
the crisis was short lived.

There are many factors which depict how India tackled global recession in spite of serious damages suffered by other nations. This was due to various policies implemented by
economy. India has made its

own path since then. India believed in not only implementing new ideas from the present scenario but also retain their old notion of orthodoxy. Indian economy varied as the people
are entering the worlds 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 worlds
Sustainable Growth
poor people whose counting reaches whooping 400 million. Rich is becoming richer and poor is becoming poorer. Is Indias economic growth sustainable? High economic and social imbalances, including illiteracy divide rural and urban India. Indias success on the global platform of economic competitiveness is deteriorated by a wealth gap and slow progress in primary education and health. Imbalance in road, electricity and transportation also exists. Infrastructure has become Achilles heel. Poor infrastructure hinders basic investments - 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.
In the agricultural sector, India suffers the food grain and agriculture production loss of around Rs 50,000 crore every year due to lack of adequate post harvest infrastructure and inefficient supply chain management by the country's farmers. India lacks efficient cold storage and food packaging facilities as well as safe and efficient rural transport system. This results in one of the
world's highest food spoilage rates, mainly during season of monsoons and other adverse weather reaches conditions. Indian Food consumers
to
meet
countrys
energy
needs. Imported oil, which met 60-70% of Indias oil needs in 2006 is expected to provide 90% by 2025. In their pursuit to grow rapidly, most of the Indian States seem to have neglected key environmental and natural resource concerns, which has resulted in largescale depletion of natural resources and rapid degradation of the environment.
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, Indias major source of energy is coal. But despite being in abundance, it is unable
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 inadequately. Due to involve-
structure. The Indian government is focused on eradicating illiteracy. In 1901, India had an abysmally 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-
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-
ment of private sector, various

landmarks have been built like Buddha International circuit, the first Indian motor racing circuit. But still, more concerted government efforts are required to balance the infra-
tially to 74.04 percent. India

has excellent universities which have produced excellent scientific scholars. Over the last 5 years, the number of Indian Institutes of Technology (IIT) has doubled, increasing from 7 to
able growth, for its part, requires the creation production of innovative assets that conserve non-renewable resources such as land, water and the atmosphere and minimizes environmental damage.
Sustainable Growth and . Sustainable adevelopment is a big political affecteconomicofdeci- will involve citizens and stakevision and way of thinking sions that many us. holders. Finally, the vision will
and acting so that we can secure the resources and environment for our future generation. It is not any one individuals task; it must be taken up by society at large. It should act as a principle which guides the Future generation depends on us, but they can inherit an impoverished quality of life, may share a condition of structural weakness because of having no voice and representation among the present generation. become reality only when everybody 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
choices each citizen makes every day, as well as guiding the
We can improve sustainable

development only when we
off than today.
By Saurabh Paul & Varun Goel DoMS, IIT Roorkee Batch 2012-2014
DoMS Spotlight
It was not an ordinary day for Dept of management Studies, IIT Roorkee. This was the day when DoMS conducted two national level competitions, Vicissitude and Evangelist. There was an aura of excitement in the department and the students were even more enthusiastic and thrilled about the oc-
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 students reached the department before the time!! However apart from the events scheduled, something else was also in store. We were fortunate to
about some of the contemporary issues. For management students it was indeed an interesting and satisfying experience 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 department was introduced to the guests. Jury members were impressed by the diversity, the calibre and strength of our departments and students potential.
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 challenging job for the judges to choose the best among the best.
listen to Mr. Devesh Singh, an

eminent lawyer and a professor in IIFT Delhi. He walked us through the constitution of India, gave an insight of the judicial system of our country and also explained some wellknown cases. He also talked
Vyan
The panel consisted of distinguished experts from industry and academia. All guests were welcomed by our Head of Department 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 venture. These suggestions and learning would surely increase our understanding and

Roorkee. It tests not only business 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:

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 Evangelist. It is a national level engineering project competition. It gives us a platform to mix technology with business i.e. how technology can be converted into a profitable venture. Like Vicissitude, this event also saw
FMS_Jeevan DoMS IIT Roorkee_Shabd Shiksha Sansthan IIM Kisaan IIM Calcutta_Paradigm Great Lakes_Enerture Lucknow_Samaksh
knowledge. Students were participative in the discussion and posed different set of questions which was answered skilfully 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: Dont Fear Predicament, Plan It Vicissitude is a national level business plan competition, organized by DoMS, IIT
IMI_Tilzmatic
Each team was allocated
a huge participation across the

nation. This event saw five finalists as mentioned below:

20 minutes for presenting their entrepreneurial idea, showing their business acumen and queries & answers. As teams started coming and started giving their presentations, the excitement 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 support all around and people
IITM Gwalior_XTECH IIT Roorkee_Team Value Dales Stream Mapping
Ansal Institute_ Piezoelectric 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.
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 anticipation. Finally the envelopes were submitted after some half an hour discussion among judges. There was a pin drop silence and everybody was praying 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 became electrifying when home team Shabd Shikha Sansthan sense of pride among the students. A huge round of applause was served for first and second runners which were Tilzmatic and Paradigm respectively. After Vicissitude it was the time for Evangelist winners pronouncement and again silence crept into the atmosphere. It was an even more intense competition and no one was in a position to predict anything. 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 but also in technology. Appreciation was given to the first runner up, Team halo Aviators. There was a tie between XTECH and Piezoelectric Roads for second runners up position. However all teams were equally good and admired by the audiences. The event ended with congratulating all winners and a note of thanks delivered by our HoD Dr. Rangnekar. The judges again showed their admiration of DoMS students energy and participation. All of us were happy and feeling fortunate to be a part of this. The VYAN was over but
was declared winner. It was another feather in the cap of DoMS cap and there was a
nothing more one could have

asked for. It re-established the brand IITR in not only business
the memory will always be

there.
DoMS Spotlight
It is always an emotional subject for anyone to be back to the roots. And it becomes even more touching when it happens after a long time. DoMS, IIT Roorkee also witnessed it on 24 and 25 November 2012. The occasion was silver jubilee alumni meet, a chance for former students and now industry
th th
learn from these experts. A total of eight eminent personalities gave their views, opinions and thoughts on the topic Shaping the Future which has now achieved relevance as never before. The event went on for two days and proved immensely helpful for students to get an insight and understand-
below: Mr. Arvind Mohan Mathur (AM): Mr. Arvind got his engineering degree from IIT Roorkee in 1987. He then joined IIT Delhi and completed his masters in 1990. He earned his doctorate from Michigan State University in 1996. He also holds an MBA degree from
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
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 distinguished people from industry put forward their vision. Their brief introduction is mentioned
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, Hospital/Specialty Business at Novartis.
Shaping the Future

Mr. Gaurav Saxena (GS): Mr. Gaurav has also passed out from IIT Roorkee in 1987 with a degree in chemical engineering. He has around 25 years of industry experience and currently serving as an AVP at Reliance 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 having more than 30 years of industry exposure. Currently he is working as Chief EngineerDr. Rangnekar, our head of department. Then a brief profile of our department was presented 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. Visualization 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 tioned the Deepak Chopras book The Seven Spiritual Laws of Success. MS: One must keep the passion for excellence. If the passion is not present, future cant be held. The example of the Ganga Canal was cited by Mr. Mayank to show how this passion resulted in an engineering marvel. Q: What is your idea about entrepreneurship 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
Process at MottMacDonald Pvt

Ltd. Mr. Mayank Sharma (MS): Mr. Mayank completed his graduation in electronics and communication engineering from IIT Roorkee in1987. He has over 9 years of working experience. Currently he is the VP and Head - Africa Market Unit at Comviva. As evident, the profiles of the guests were very impressive and everyone was expecting an intellectually satisfying session. The event started with welcoming the alumni by
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 learning new things. Based on that capability, future can be shaped. Another key aspect is innovation and this is where we should concentrate and contribute. GS: Study of the engineering sciences gives us certain tools. But this does not alone guarantee success. One important characteristic is the spirituality quotient. Mr. Gaurav men-
others to do anything. But entrepreneurship also carries a certain amount of risk and this should not be avoided. Therefore the here comes the Passion, the first P of entrepreneurship. Without passion, one cant get success in anything. One must also focus on the initial five to ten years of the business as they are the most challenging ones. MS: For every success story, there are hundreds of untold failures. We should still remember the success. Every failure brings more possibility for
Shaping the Future

success. Failure as popularly believed, may not be dramatic. We should be ready for failure and recover from it. Entrepreneurship is deemed to be working independently which on the other hand, is actually working according to many stakeholdexplicit and implicit and act accordingly. The generic discussion was concluded with it and now it was the time for questions from the audience. Q: How conducive is environment ago? MS: It is certainly much better. There was no concept of venture capital then. Now a days funding is very easy and environment is positive. One should note that first group most often comes from a near circle such as family, friends etc. Even the big business enterprise 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 for entrepreneurship 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.
ers like consumers, partners,

employee etc. SG: In an entrepreneurial venture, trust between partners is extremely important factor. Hence the selection of the partner is very important in entrepreneurship. 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 gathered, 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-
when compared to 25 years
SG: After graduation, I worked

in Haldia Petrochemicals Limited which has government has stakeholder and as well. of One PSUs. should not overlook the status contribution 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 acquire 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
cation system.
GS: the primary purpose of entrepreneurship is how to serve better than others. This is the theme of any business. One should learn about the need,
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
marked the end of the day. It

was truly an enriching experience for all of us and we were eagerly waiting for the next day.
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 introductions 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. 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 accomplished badminton player. She has over 20 years of experience and is currently working as technical manager at Alcatel Lucent India Ltd. Mr. Vineet Shukla (VS): Mr. Vineet got his engineering degree in industrial engineering from IIT Roorkee in 1987. He completed his masters from IIT Delhi in 1988. He is having you can shape the future is by acquiring the entrepreneurial spirit. Passion is a very important factor for the success. Another factor is persistence which is also essential for success. The next factor is ownership. One should remember that ownership is never assigned, 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
He has more than 20 years of

experience in building engineering 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 California 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 currently working as Vice Presi-
more than 25 years of experience 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 welcoming the alumni by Dr. Rangnekar, our head of department. Then these guests were introduced to our department through a presentation. Afterwards the discussion began. Q: How do we shape the future? AS: Future is actually in our hands. My belief is, the way
big thing for shaping the future. Also consistent teamwork is the key for the success. Conviction is significant for success as well. Lastly, knowledge is something which can be acquired but wisdom cant 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 technology is around products, not the services. So we have a mind-set that we have to build great products.
Shaping the Future

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 Q: Talking in the context of Indian IT industry, we see a lack of innovation. How we as managers, 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 However product development is very learning and it adds tremendous 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-
is not happening in India. Also,

a lot of people want to do things for IIT Roorkee but they have time constraints. IIT Roorkee 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 persistence, 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 cant be generated by sitting at home. Expose yourself to the outside world
lot of scope of innovation. Services generally have optimization rather than true innovation. This has been recognized and there is increased focus on innovation. Now most of the service organizations also operate in product domain. VS: Today the market is changing which is giving a lot of push for the product development. In the future, we expect to see innovative ideas from this section mainly. AS: Prima facie, product development provides a comparatively low return on investment to the service provider. People should understand what prod-
neurial spirit?
AD: the first thing we should look for is, are you solving a problem or it is just for the sake 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 important. 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.
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.
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 generated. In comparison, the service industry is a lot easier.
VS: Learn to be risk taking. Discipline is very important yet we should also have enough flexibility to take up new challenges. Discipline should not be translated into rigidness.
.
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 session. It proved to be a very useful session which would definitely help students in their grooming as future managers and leaders.
.
Department of Management Studies, IIT Roorkee Roorkee - 247667, INDIA
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Domination December 2012

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Domination December 2012

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DOMINATION

NEWSLETTER FROM DEPARTMENT OF MANAGEMENT STUDIES, IIT ROORKEE

session with lot of curiosity.

teresting point of discussion.

2000. Additionally, we have

our own alumni Mr. Amitesh

at DoMS, IIT Roorkee. We hope

02 | Domination, December 2012 Department of Management Studies, IIT Roorkee

DEPARTMENT OF MANAGEMENT STUDIES INDIAN INSTITUTE OF TECHNOLOGY ROORKEE

03 | Domination, December 2012 Department of Management Studies, IIT Roorkee

involved in the production of

keep changing rapidly. In order

on a regular basis which could

would help pass-outs cope with

III model a success.

Most diploma universities do

and cannot be done overnight.

cational institutes. Curriculum

imperative that both sectors

help in making the bond

only care about getting into the

with policies of companies

veys India is one of the highest

tween educational institutions

By Rohan Krishnan DoMS, IIT Roorkee - Batch 2012-2014 krishnan.rohan@gmail.com

between the two counties for

not the lone example. There

tries. Leveraging on those tax

rate the checks by segmenting

By Abhay Kumar DoMS, IIT Roorkee - Batch 2012-2014 checkabhaykumar@gmail.com

My To-do List for 2013 - I

have decided to call it my to-do

My To-do List for 2013 - I

sion that I now am a de-facto

likes of Dilbert and co. to

inflexion every day, eating a

chase of this device. Reason is

persuasion skills and charm to

garbed in the attire of sound

My To-do List for 2013 - I

By Amitesh Jasrotia DoMS, IIT Roorkee - Batch 2002-04 amitesh.jasrotia@gmail.com

By Ashish Aggarwal DoMS, IIT Roorkee - Batch 2012-2014 ashish_ar122@yahoo.com

(1 Point for each correct answer)

3) Mckinsey coined the term .firms in the year 1993.

influence of corporations on government- particularly from the financial services sector.

1. Could you elaborate on your

ner is the highest professional

ous activities like corporate

mistakes like no track of their

Through a review process, you

portunity to interview him and

in the Disinvestment Ministry

agement schools, International

from the Indian Administrative

It was indeed a pleasure

this venture according to him.

All the problems have arisen

most challenging. This was at a

Hunt is highly improbable.

both countries are similar. He

velop as a viable source in

ation of hydroelectric power

poor productivity which in turn