Essential Business Knowledge

R
INDIRA GROUP OF INSTITUTES
Essential Business Knowledge

2012-2013
Compiled & Edited by: Prof. Manjoo Phadke
INDEX
Management Thinkers 1) 2) 3) 4) 5) 6) 7) 8) 9) 10) 11) 12) 13) C.K. Prahalad Henry Mintzberg Jack Welch Jim Collins Ken Blanchard Malcolm Gladwell Marshall Goldsmith Michael E. Porter Peter Drucker Peter Senge Philip Kotler Stephen Covey Tom Peters 7 8 9 10 11 12
13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36
Management and other books 1) 2) 3) 4) 5) 6) 7) 8) 9) 10) 11) 12) 13) 14) 15) A Better India: A Better World N R Narayana Murthy Brandwashed - Martin Lindstrom Competing for the Future - Gary Hamel and C.K. Prahalad Corporate Chanakya - Radhakrishnan Pillai First, Break All the Rules - Marcus Buckingham and Curt Coffman Five Point Someone - Chetan Bhagat Good to Great: Why Some Companies Make the Leapand Others Dont Jim Collins How to Win Friends & Influence People - Dale Carnegie Imagining India: The Idea of a Renewed Nation - Nandan M. Nilekani In Search of Excellence: Lessons from Americas Best-Run Companies Thomas J. Peters and Robert H. Waterman, Jr. My Years with General Motors - Alfred P . Sloan, Jr. The 7 Habits of Highly Effective People: Powerful Lessons in Personal Change - Stephen R. Covey The Essential Drucker - Peter Drucker The Fortune at the Bottom of the Pyramid : Eradicating Poverty Through Profits - C. K. Prahalad The Goal - Eliyahu Goldratt
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This material is only for internal circulation within Indira Group of Institutes for academic purpose and is not meant for any commercial use.
INDEX
16) 17) 18) 19) 20) 21) 22) The Power of Positive Thinking - Norman Vincent Peale The Tipping Point: How Little Things Can Make a Big Difference Malcolm Gladwell The Winning Way : Learnings From Sport For Managers Harsha and Anita Bhogle The World Is Flat: A Brief History of the Twenty-first Century Thomas L Friedman 37 38 39 40 41 42 43 44 45 48 52 53 55 57 61 63 64 64 65 65 66 66 67 67 68 68 69 69 70
What Got You Here Wont Get You There - Marshall Goldsmith, Mark Reiter Winning - Jack Welch, Suzy Welch You Can Win - Shiv Khera
Major industries & Companies 1) 2) 3) 4) 5) 6) 7) Automobile BFSI Engineering & Manufacturing FMCG & FMCD IT & ITES Retail Telecom
Major Global Companies 1) 2) 3) 4) 5) 6) 7) 8) 9) 10) 11) 12) 13) Amazon.com Apple Boston Consulting Group Coca-Cola Deloitte Goldman Sachs Google Intel IBM Microsoft Procter & Gamble Starbucks Wal-Mart
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INDEX
Business leaders 1) 2) 3) 4) 5) 6) 7) 8) 9) 10) 11) 12) 13) 14) 15) 16) 17) 18) 19) 20) 21) 22) 23) 24) 25) 1) 2) 3) 4) 5) 6) 7) 8) 9) 10) Adi Godrej Aditya Puri Anand Mahindra Anil Dhirubhai Ambani Azim Hashim Premji Brijmohan Lall Munjal Bill Gates Chanda Kochhar Henry Ford Kiran Mazumdar-Shaw Kumar Mangalam Birla Kushal Pal Singh Lakshmi Mittal Larry Page Michael Dell Mukesh Dhirubhai Ambani Nagavara Ramarao Narayana Murthy Naina Lal Kidwai Ratan Naval Tata Richard Branson Sam Walton Steve Jobs Sunil Bharti Mittal Ted Turner Vijay Mallya Association of Southeast Asian Nations (ASEAN) European Union (EU) Group of Eight (G8) International Labor Organization (ILO) International Monetary Fund (IMF) International Olympic Committee (IOC) Organization of Petroleum Exporting Countries (OPEC) United Nations (UN) World Bank World Trade Organization (WTO) 72 72 73 73 74 74
75 76 76 77 78 78 79 80 80 81 81 82 82 83 83 84 84 85 85 86 87 88 90 91 92 93 94 95 96 97
Major world organizations
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INDEX
Major Economic Indicators Meaning, Methodology and Impact on global business environment 1) 2) 3) 4) 5) 6) 5) Gross Domestic Product (GDP) Per Capita Income (PCI) Global Innovation Index (GII) Big Mac Index of Currency Valuation Fairness Human Development Index (HDI) Wholesale Price Index (WPI) Consumer Price Index (CPI) 100 102 105 106 107 108 108
Global Listings and Rankings - Meaning, Methodology and Impact 1) 2) 3) 4) Standard & Poors rankings Moodys Corporation CRISIL Ratings Fortune 500
109 111 112 113 114 116 120 121 121 123 123 123 123 124 125 125 126 128 122 122 122 122 123 123 123 123 123 123
Mergers & Acquisitions Top 10 Business Mergers/Acquisitions of the Decade 1) 2) 3) 4) 5) 6) 7) 8) 9) 10) AOL & Time Warner Pfizer Inc & Pharmacia Corporation Royal Dutch Petroleum & Shell Transport and Trading Co Chase Manhattan & JP Morgan Inbev Inc & Anheuser-Busch Companies Inc E.ON & POWERGEN HSBC & HOUSEHOLD INTERNATIONAL BANK OF AMERICA & MERRIL LYNCH EBAY& PAYPAL ADIDAS & REEBOK
The top 10 acquisitions made by Indian companies worldwide Top 10 Indian Mergers and Acquisitions in 2011 1) 2) 3) 4) 5) 6) 7) 8) 9) 10) The Reliance BP deal Essar exits Vodafone The Fortis Healthcare merger iGate acquires majority stake in Patni Computers GVK Power acquires Hancock Coal Essar Energys Stanlow Refinery Deal with Royal Dutch Shell Aditya Birla Group to acquire Columbian Chemicals Mahindra & Mahindra acquires Ssangyong The Vedanta Cairn acquisition Adani Enterprises takes over Abbot Point Coal
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INDEX
Top 10 Mergers & Acquisitions in India for 2010 1) 2) 3) 4) 5) 6) 7) 8) 9) 10) Tata Chemicals buys British salt Reliance Power and Reliance Natural Resources merger Airtels acquisition of Zain in Africa Abbotts acquisition of Piramal healthcare solutions GTL Infrastructure acquisition of Aircel towers ICICI Bank buys Bank of Rajasthan JSW and Ispat Ki Kahani Reckitt Benckiser goes shopping Mahindra goes international Fortis Healthcare acquisitions 124 124 124 124 124 124
124 124 124 124 125 126 132 135 137 139 141 143 141 148 150 152 154 155 157 159 161 164 165 167 168 170 172
Cross Cultural information Major countries and cultures Etiquette, Customs and Protocol 1) 2) 3) 4) 5) 6) 7) 8) 9) 10) India China Kenya UAE UK Germany USA Brazil Australia Singapore
Curious Questions Answered 1) 2) 3) 4) 5) 6) 7) 8) 9) 10) What is recession? What is its impact of current one on various countries? What is the European Debt Crisis? How does Google earn money? How do stock markets function, especially in India? What is inflation, and what causes it? What is ITES? How does the call centre business work in India? Fuel Prices in India - Is it a Crude Awakening? Why does going green make good business sense? How was Facebook born and who is its father? What is Wi-Fi and how does it work?
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INDEX
11) 12) 13) 14) What Went Wrong with the Aakash Tablet? How Venture Capital Backs Businesses? What is BRIC? Has it hit a wall ? Which are the Latest web and Internet marketing concepts 173 175 176 178 179 180
Grooming tips 1) 2) 3) 4) 5) 6) 7) Importance of Personal Grooming Physical Grooming Social Grooming Formal Dress Code Guidelines Men & Women Back to the Basics / 10 Fundamentals of a Mans Wardrobe Must Haves for a woman Make-up tips for Women
180 182 183 187 195 195 196
Crosswords, Gap Fillers, Did-You-Knows etc Learning through Fun
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ManageMent thinkers
1. C. K. PRAHALAD
Coimbatore Krishnarao Prahalad (8 August 1941 16 April 2010) was the Paul and Ruth McCracken Distinguished University Professor of Corporate Strategy at the Stephen M. Ross School of Business in the University of Michigan. He was renowned as the co-author of Core Competence of the Corporation (with Gary Hamel) and The Fortune at the Bottom of the Pyramid (with Stuart L. Hart). He completed his B.Sc degree in Physics from Loyola College, Chennai, part of the University of Madras followed by post graduate work in management at the Indian Institute of Management Ahmedabad.
At Harvard Business School, Prahalad wrote a doctoral thesis on multinational management in just two and a half years, graduating with a D.B.A. degree in 1975. In 1977, he was hired by the University of Michigans School of Business Administration, where he advanced to the top tenured appointment as a full professor. In 2005, Prahalad earned the universitys highest distinction, Distinguished University Professor . In the earlier days of Prahalads fame as established management guru, in the beginning of the 90s, he advised Philips Jan Timmer on the restructuring of this electronic corporation, then on the brink of collapse. C. K. Prahalad is the co- author of a number of well known works in corporate strategy, including The Core Competence of the Corporation (with Gary Hamel, Harvard Business Review, May June 1990) which continues to be one of the most frequently reprinted articles published by the Harvard Business Review. He authored or co-authored several international bestsellers, including: Competing for the Future (with Gary Hamel, 1994), The Future of Competition (with Venkat Ramaswamy, 2004), and The Fortune at the Bottom of the Pyramid: Eradicating Poverty through Profits (Wharton School Publishing, 2004). His last book, co-authored by M. S. Krishnan and published in April 2008, is called The New Age of Innovation. Prahalad has been among top ten management thinkers in every major survey for over ten years. Business Week said of him: a brilliant teacher at the University of Michigan, he may well be the most influential thinker on business strategy today. He was a member of the Blue Ribbon Commission of the United Nations on Private Sector and Development. He was the first recipient of the Lal Bahadur Shastri Award for contributions to Management and Public Administration presented by the President of India in 1999.
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2. HENRY MINTZBERG
Professor Henry Mintzberg, OC OQ FRSC (born in Montreal, September 2, 1939) is an internationally renowned academician and author on business and management. He is currently the Cleghorn Professor of Management Studies at the Desautels Faculty of Management of McGill University in Montreal, Quebec, Canada, where he has been teaching since 1968. He earned his Masters degree in Management and Ph.D. from the MIT Sloan School of Management in 1965 and 1968 respectively. His undergraduate degree in mechanical engineering is from McGill University.
Henry Mintzberg writes prolifically on the topics of management and business strategy, with more than 150 articles and fifteen books to his name. His seminal book, The Rise and Fall of Strategic Planning (Mintzberg 1994), criticizes some of the practices of strategic planning today. In 2004 he published a book entitled Managers Not MBAs (Mintzberg 2004) which outlines what he believes to be wrong with management education today. Rather controversially, Mintzberg claims that prestigious graduate management schools like Harvard Business School and the Wharton Business School at the University of Pennsylvania are obsessed with numbers and that their overzealous attempts to make management a science are damaging the discipline of management. Mintzberg advocates more emphasis on post graduate programs that educate practicing managers (rather than students with little real world experience) by relying upon action learning and insights from their own problems and experiences. From 1991 to 1999, he was a visiting professor at INSEAD. In 1997 he was made an Officer of the Order of Canada. In 1998 he was made an Officer of the National Order of Quebec. He is now a member of the Strategic Management Society. Mintzberg runs two programs which have been designed to teach his alternative approach to management and strategic planning at McGill University: the International Masters in Practicing Management (I.M.P .M.) in association with the McGill Executive Institute and the International Masters for Health Leadership (I.M.H.L.). With Phil LeNir, he owns Coaching Ourselves International, a private company using his alternative approach for management development directly in the workplace.
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3. JACK WELCH
John Francis "Jack" Welch, Jr. (born November 19, 1935) is an American chemical engineer, business executive, and author. He was Chairman and CEO of General Electric between 1981 and 2001. During his tenure at GE, the company's value rose 4000%. In 2006 Welch's net worth was estimated at $720 million. Welch attended Salem High School and then University of Massachusetts Amherst, graduating in 1957 with a Bachelor of Science degree in chemical engineering. He is a member of the Phi Sigma Kappa fraternity. He received a M.S. and Ph.D at the University of Illinois at UrbanaChampaign in 1960. Welch joined General Electric in 1960. He worked as a junior chemical engineer in Pittsfield, Massachusetts, at a salary of $10,500. Welch planned to quit his job as junior engineer because he was dissatisfied with the raise offered to him and was unhappy with the bureaucracy he observed at GE. Welch was persuaded to remain at GE by Reuben Gutoff, an executive at the company, who promised him that he would help create the small company atmosphere Welch desired. Welch was named a vice president of GE in 1972. He became senior vice president in 1977 and vice chairman in 1979. Welch became GE's youngest chairman and CEO in 1981, succeeding Reginald H. Jones. By 1982, Welch had dismantled much of the earlier management put together by Jones. On many occasions he was criticized for being aggressive and stubborn; yet he remained the company's most important asset and his tremendous leadership skills made General Electric one of the most successful companies across the world. He has noted down his life experiences and challenges he faced and his approaches to business effectiveness in his book 'Straight From the Guts' which was published in 2001. Following Welch's retirement from GE, he became an adviser to private equity firm Clayton, Dubilier & Rice and to the chief executive of IAC, Barry Diller. In addition to his consulting and advisory roles, Welch has been active on the public speaking circuit, and co-wrote a popular column for Business Week with his wife, Suzy, for four years until November 2009. The column was syndicated by The New York Times. In 2005, he published Winning, a book about management co-written with Suzy Welch, which reached #1 on The Wall Street Journal bestseller list, and appeared on New York Times' Best Seller list. Since September 2006, Welch has been teaching a class at the MIT Sloan School of Management to a hand-picked group of 30 MBA students with a demonstrated career interest in leadership. Good business leaders create a vision, articulate the vision, passionately own the vision, and relentlessly drive it to completion." Jack Welch
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4. JIM COLLINS
Jim Collins is a student and teacher of enduring great companieshow they grow, how they attain superior performance, and how good companies can become great companies. Having invested nearly a quarter of a century of research into the topic, Jim has authored or coauthored six books that have sold in total more than ten million copies worldwide. They include the classic Built to Last, a fixture on the Business week bestseller list for more than six years; the international bestseller Good to Great, translated into 35 languages; and How the Mighty Fall, a New York Times bestseller that examines how great companies can selfdestruct.
His most recent book is Great by Choice: Uncertainty, Chaos, and LuckWhy Some Thrive Despite Them All, coauthored with Morten Hansen. Based on nine years of research, it answers the question, why do some companies thrive in uncertainty, even chaos, and others do not? Great by Choice distinguishes itself from Jims prior books by its focus not just on performance, but also on the type of unstable environments faced by leaders today. Driven by a relentless curiosity, Jim began his research and teaching career on the faculty at the Stanford University Graduate School of Business, where he received the Distinguished Teaching Award in 1992. In 1995, he founded a management laboratory in Boulder, Colorado, where he now conducts research and consults with executives from the corporate and social sectors. He holds degrees in business administration and mathematical sciences from Stanford University, and honorary doctoral degrees from the University of Colorado and the Peter F. Drucker Graduate School of Management at Claremont Graduate University. Jim has worked with senior executives and CEOs at over a hundred corporations. He has also worked with social sector organizations across the spectrum, from education and the arts to religious organizations, local and federal government, healthcare, and cause-driven nonprofits. In 2005, he published a monograph, Good to Great and the Social Sectors. Jim is an avid rock climber, and he has made one-day ascents of the North Face of Half Dome and the three-thousand-foot Nose route of El Capitan in Yosemite Valley.
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5. KEN BLANCHARD
Kenneth Hartley Blanchard (born May 6, 1939) is an American author and management expert. His book The One Minute Manager (co-authored with Spencer Johnson) has sold over 13 million copies and has been translated into 37 languages. He has coauthored over 30 other best-selling books, including Raving Fans: A Revolutionary Approach To Customer Service (1993), Leadership and the One Minute Manager: Increasing Effectiveness Through Situational Leadership (1985). (in which he coined the term seagull manager), Gung Ho! Turn On the People in Any Organization (1997), Whale Done! The Power of Positive Relationships (2002) and Leading at a Higher Level: Blanchard on Leadership and Creating High Performing Organizations (2006).
Blanchard is the Chief Spiritual Officer of The Ken Blanchard Companies, an international management training and consulting firm that he and his wife, Marjorie Blanchard, cofounded in 1979 in San Diego, California. He completed a BA degree in government and philosophy at Cornell University in 1961, a MA degree in sociology and counseling at Colgate University in 1963 and a PhD degree in education administration and leadership at Cornell University in 1967. As an undergraduate at Cornell, he joined the brotherhood of Phi Gamma Delta (FIJI), and Blanchard was selected for membership in the Quill and Dagger society. In the 1960s, Ken co-developed the Situational Leadership theory and model with Paul Hersey. Blanchard is a Cornell University trustee emeritus and visiting professor at the Cornell University School of Hotel Administration. He and his wife were named Cornell Entrepreneurs of the Year in 1991.
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6. MALCOLM GLADWELL
Malcolm T. Gladwell, CM (born September 3, 1963) is a Britishborn Canadian journalist, bestselling author, and speaker. He is currently based in New York City and has been a staff writer for The New Yorker since 1996. He has written four books, The Tipping Point: How Little Things Make a Big Difference (2000), Blink: The Power of Thinking Without Thinking (2005), Outliers: The Story of Success (2008), and What the Dog Saw: And Other Adventures (2009), a collection of his journalism. All four books were New York Times Bestsellers.
Gladwells books and articles often deal with the unexpected implications of research in the social sciences and make frequent and extended use of academic work, particularly in the areas of sociology, psychology, and social psychology. Gladwell was appointed to the Order of Canada on June 30, 2011. During his high school years, Gladwell was an outstanding middle-distance runner and won the 1500 meter title at the 1978 Ontario High School 14 year old championships in Kingston, Ontario. In the spring of 1982, Gladwell interned with the National Journalism Center in Washington, D.C. He graduated with a degree in history from the University of Torontos Trinity College in 1984. Gladwells grades werent good enough for graduate school (as Gladwell puts it, college was not an... intellectually fruitful time for me), so he decided to go into advertising. After being rejected by every advertising agency he applied to, he accepted a journalism position at The American Spectator and moved to Indiana. He subsequently wrote for Insight on the News, a conservative magazine owned by the Rev. Sun Myung Moons Unification Church. In 1987, Gladwell began covering business and science for The Washington Post, where he worked until 1996. In a personal elucidation of the 10,000 hour rule that he popularized in Outliers, Gladwell notes, I was a basket case at the beginning, and I felt like an expert at the end. It took 10 years exactly that long. 2005 Time named Gladwell one of its 100 most influential people. 2007 American Sociological Associations first Award for Excellence in the Reporting of Social Issues. 2007 honorary degree from University of Waterloo. 2011 honorary degree from University of Toronto
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7. MARSHALL GOLDSMITH
Marshall Goldsmith (March 20, 1949) is an American author of management-related literature. Born in Valley Station, Kentucky, he received his BS from the Rose-Hulman Institute of Technology, his MBA from Indiana Universitys Kelley School of Business (from which he received the 2009 Distinguished Entrepreneur Award), and his PhD from UCLA Anderson School of Management in 1977 (where he was recognized in 2010 as one of the schools 100 most inspirational alumni over the past 75 years). From 1976-1980 he was Assistant Professor and then Associate Dean at Loyola Marymount Universitys College of Business. He currently teaches executive education at Dartmouth Colleges Tuck School of Business, and he frequently speaks at leading business schools.
In 1977, he met Dr. Paul Hersey, a consultant in leadership development, and began teaching managers. He was later co-founder of Keilty, Goldsmith and Company and is a partner in Marshall Goldsmiths company. Goldsmith was a pioneer in the use of customized 360-degree feedback (confidential feedback from direct reports, peers and managers) as a leadership development tool. His early efforts in providing feedback and then following-up with executives to measure changes in behavior were precursors to what eventually evolved as the field of executive coaching. While serving as a board member of the Peter Drucker Foundation in 1996, Goldsmith co-edited his first book, The Leader of the Future (with Frances Hesselbein and Richard Beckhard). It is perhaps the most popular edited book on leadership ever written. The success of this first book led Goldsmith to co-edit six more books, which have been extremely well received in their field. He is one of the few executive advisors who has been asked to work with more than 120 major CEOs and their management teams. In 2011 Dr. Goldsmith was named winner of the prestigious 2011 Thinkers50 Leadership Award (the definitive listing of the worlds top thinkers created by Des Dearlove and Stuart Crainer) as the Worlds Most Influential Leadership Thinker, additionally ranking #7 on the overall list of Thinkers50 worlds top 50 business thinkers. In 2004 he was recognized by the American Management Association as one of 50 great thinkers and business leaders who have impacted the field of management over the past 80 years. Goldsmith is the author or co-editor of 31 books, including What Got You Here Wont Get You There (a New York Times best-seller, Wall Street Journal #1 Business Book and winner of the Harold Longman Award as Best Business Book of the Year). Harvard Business School has recommended six of his books in their Working Knowledge series.
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8. MICHAEL E. PORTER
Michael Eugene Porter (born May 23, 1947) is the Bishop William Lawrence University Professor at Harvard Business School. He is a leading authority on company strategy and the competitiveness of nations and regions. Michael Porters work is recognized in many governments, corporations and academic circles globally. He chairs Harvard Business Schools program dedicated for newly appointed CEOs of very large corporations. Michael Eugene Porter received a B.S.E. with high honors in aerospace and mechanical engineering from Princeton University in 1969. He received an M.B.A. with high distinction in 1971 from the Harvard Business School, where he was a George F. Baker Scholar, and completed Ph.D. in Business Economics from Harvard University in 1973.
Michael Porter is the author of 18 books and numerous articles including Competitive Strategy, Competitive Advantage, Competitive Advantage of Nations, and On Competition. A six-time winner of the McKinsey Award for the best Harvard Business Review article of the year, Professor Porter is the most cited author in business and economics. Michael Porters core field is competition and company strategy. He is generally recognized as the father of the modern strategy field, and his ideas are taught in virtually every business school in the world. His work has also re-defined thinking about competitiveness, economic development, economically distressed urban communities, environmental policy, and the role of corporations in society. In addition to his research, writing, and teaching, Porter serves as an advisor to business, government, and the social sector. He has served as strategy advisor to numerous leading U.S. and international companies, including Caterpillar, Procter & Gamble, Scotts Miracle-Gro, Royal Dutch Shell, and Taiwan Semiconductor . Professor Porter also plays an active role in U.S. economic policy with the Executive Branch and Congress, and has led national economic strategy programs in numerous countries. He is currently working with the Presidents of Rwanda and South Korea. In 2000, Michael Porter was appointed a Harvard University Professor, the highest professional recognition that can be awarded to a Harvard faculty member. In 2009, he was awarded an honorary degree from McGill University. His main academic objectives focus on how a firm or a region can build a competitive advantage and develop competitive strategy. He is also a Fellow Member of the Strategic Management Society.
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9. PETER DRUCKER
Peter Ferdinand Drucker (November 19, 1909 November 11, 2005),was an influential writer, management consultant, and self-described social ecologist. He is one of the best-known and most widely influential thinkers and writers on the subject of management theory and practice. His writings have predicted many of the major developments of the late twentieth century, including privatization and decentralization; the rise of Japan to economic world power; the decisive importance of marketing; and the emergence of the information society with its necessity of lifelong learning. In 1959, Drucker coined the term knowledge worker and later in his life considered knowledge worker pr oductivity to be the next frontier of management.
After graduating from Dbling Gymnasium, Drucker found few opportunities for employment in post-World War Vienna, so he moved to Hamburg, Germany, first working as an apprentice at an established cotton trading company, then as a journalist, writing for Der sterreichische Volkswirt (The Austrian Economist). Drucker then moved to Frankfurt, where he took a job at the Daily Frankfurter General-Anzeiger. While in Frankfurt, he also earned a doctorate in international law and public law from the University of Frankfurt in 1931. Druckers career as a business thinker took off in 1942, when his initial writings on politics and society won him access to the internal workings of General Motors (GM), one of the largest companies in the world at that time. His experiences in Europe had left him fascinated with the problem of authority. Drucker taught that management is a liberal art, and he infused his management advice with interdisciplinary lessons from history, sociology, psychology, philosophy, culture and religion. During his long consulting career, Drucker worked with many major corporations, including General Electric, Coca-Cola, Citicorp, IBM, and Intel. He consulted with notable business leaders such as GEs Jack Welch; Procter & Gambles A.G. Lafley; Intels Andy Grove; Edward Jones John Bachmann; Shoichiro Toyoda, the honorary chairman of Toyota Motor Corp.; and Masatoshi Ito, the honorary chairman of the Ito-Yokado Group, the second largest retailing organization in the world. Drucker served as a consultant for various government agencies in the United States, Canada and Japan. Druckers 39 books have been translated into more than thirty languages. Two are novels, one an autobiography. Peter Drucker wrote a book in 2001 called The Essential Drucker. It is the first volume and combination of the past sixteen years of Peter Druckers work on management. The information gathered is a collection from his previous findings.
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10. PETER SENGE

Peter Michael Senge (born 1947) is an American scientist and director of the Center for Organizational Learning at the MIT Sloan School of Management. He is known as author of the book The Fifth Discipline: The art and practice of the learning organization from 1990 (new edition 2006). He is a senior lecturer at the System Dynamics Group at MIT Sloan School of Management, and co-faculty at the New England Complex Systems Institute.
Peter Senge received a B.S. in Aerospace engineering from Stanford University. While at Stanford, Senge also studied philosophy. He later earned an M.S. in social systems modeling from MIT in 1972. He also earned a Ph.D. from the MIT Sloan School of Management in 1978. He was the Director of the Center for Organizational Learning at the MIT Sloan School of Management, and is currently (2005) on the faculty at MIT An engineer by training, Peter was a protg of John H. Hopkins and has followed closely the works of Michael Peters and Robert Fritz and based his books on pioneering works with the five disciplines in Ford, Chrysler, Shell, AT&T, Hannover Insurance, Harley-Davidson since the 70s and 80s through today. Senge emerged in the 1990s as a major figure in organizational development with his book The Fifth Discipline where he developed the notion of a learning organization. This views organizations as dynamical systems (as defined in Systemics) in a state of continuous adaptation and improvement. Learning Organization and Systems Thinking : According to Senge learning organizations are those organizations where people continually expand their capacity to create the results they truly desire, where new and expansive patterns of thinking are nurtured, where collective aspiration is set free, and where people are continually learning to see the whole together. Senge also believed in the theory of Systems Thinking which has sometimes been referred to as the Cornerstone of the Learning Organization. System thinking focuses on how the individual that is being studied interacts with the other constituents of the system. Rather than focusing on the individuals within an organization it prefers to look at a larger number of interactions within the organization and in between organizations as a whole.
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11. PHILIP KOTLER

Philip Kotler (born 27 May 1931 in Chicago) is an American academic focused on marketing. The author of Marketing Management (the most widely used marketing book in graduate business schools worldwide) among dozens of other textbooks and books, he is the S.C. Johnson & Son Distinguished Professor of International Marketing at the Kellogg School of Management at Northwestern University. Professor Kotler has significantly contributed to Kelloggs success through his many years of research and teaching there. The nine volume Legends in Marketing: Philip Kotler published in 2012 collects over 150 of his articles, with critical commentary.
He received his Masters Degree at the University of Chicago and his PhD Degree at MIT, both in economics. He did post-doctoral work in mathematics at Harvard University and in behavioral science at the University of Chicago. He has published over one hundred articles in leading journals, several of which have received best-article awards. Professor Kotler was the first recipient of the American Marketing Associations (AMA) Distinguished Marketing Educator Award (1985). The European Association of Marketing Consultants and Sales Trainers awarded Kotler their prize for Marketing Excellence. Professor Kotler has consulted for such companies as IBM, General Electric, AT&T, Honeywell, Bank of America, Merck and others in the areas of marketing strategy and planning, marketing organization and international marketing. He has been Chairman of the College of Marketing of the Institute of Management Sciences, a Director of the American Marketing Association, a Trustee of the Marketing Science Institute, a Director of the MAC Group, a former member of the Yankelovich Advisory Board, and a member of the Copernicus Advisory Board. He is a Member of the Board of Governors of the School of the Art Institute of Chicago and a Member of the Advisory Board of the Drucker Foundation. He has received honorary doctoral degrees from the Stockholm University, University of Zurich, Athens University of Economics and Business, DePaul University, the Cracow School of Business and Economics, Groupe H.E.C. in Paris, the University of Economics and Business Admininstration in Vienna, Budapest University of Economic Science and Public Administration, and the Catholic University of Santo Domingo. He has traveled extensively throughout Europe, Asia and South America, advising and lecturing to many companies about how to apply sound economic and marketing science principles to increase their competitiveness. He has also advised governments on how to develop and position the skill sets and resources of their companies for global competition.
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12. STEPHEN COVEY

Stephen Richards Covey (October 24, 1932 July 16, 2012) was an American educator, author, businessman and motivational speaker. His most popular book was The Seven Habits of Highly Effective People. His other books include First Things First, Principle-Centered Leadership, The Seven Habits of Highly Effective Families, The 8th Habit, and The Leader In Me How Schools and Parents Around the World Are Inspiring Greatness, One Child at a Time. He was a professor at the Jon M. Huntsman School of Business at Utah State University at the time of his early life
Covey earned a Bachelor of Science degree in business administration from the University of Utah, an MBA from Harvard University, and a Doctor of Religious Education (DRE) from Brigham Young University. He was a member of Pi Kappa Alpha International Fraternity. He was awarded ten honorary doctorates. Covey developed his 2008 book The Leader in Me into several education-related projects. On April 20, 2010 he made his first post to an education blog entitled Our Children and the Crisis in Education which appears on the Huffington Po st news and blog-aggregation website. Covey died at the Eastern Idaho Regional Medical Center in Idaho Falls, Idaho, on July 16, 2012, due to complications from a fall, having lost control of his bicycle on a steep road the previous April. Some of Stephen R. Coveys milestones: Over 20 million books sold (in 38 languages) The 7 Habits of Highly Effective People was named the #1 Most Influential Business Book of the Twentieth Century Authored four titles with sales exceeding one million copies each: First Things First, Principle-Centered Leadership, The 7 Habits of Highly Effective Families, and The 7 Habits of Highly Effective People. Latest book, The 8th Habit , has sold nearly 400,000 copies International Man of Peace Award National Fatherhood Award (father of 9, grandfather of 44. Author of the best-selling nonfiction audio in history (The 7 Habits of Highly Effective People) No. 1 best-selling hardcover book on family (The 7 Habits of Highly Effective Families) MBA from Harvard, doctorate degree from Brigham Young University Board of directors for the Points of Light Foundations Co-founder and vice chairman of FranklinCovey, the leading global professional services firm with offices in 123 countries International Entrepreneur of the Year Award Awarded eight honorary doctorate degrees
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13. TOM PETERS

Thomas J. Tom Peters (born November 7, 1942) is an American writer on business management practices, best known for In Search of Excellence (co-authored with Robert H. Waterman, Jr). Peters was born in Baltimore, Maryland. He went to Severn School for High School and attended Cornell University, receiving a bachelors degree in civil engineering in 1965, and a masters degree in 1966. He later studied business at Stanford Business School, receiving an M.B.A. and Ph.D.. In 2004, he also received an honorary doctorate from the State University of Management in Moscow.
From 1966 to 1970, he served in the United States Navy, making two deployments to Vietnam as a Navy Seabee, then later working in the Pentagon. From 1973 to 1974, he worked in the White House as a senior drug-abuse advisor, during the Nixon administration. Peters has acknowledged the influence of military strategist Colonel John Boyd on his later writing. From 1974 to 1981, Peters worked as a management consultant at McKinsey & Company, becoming a partner and Organization Effectiveness practice leader in 1979. In 1981, he left McKinsey to become an independent consultant. In 1990, Peters was referred to in a British Department of Trade and Industry (DTI) publication as one of the worlds Quality Gurus. In Search of Excellence was published in 1982, and became a bestseller, gaining national exposure when a series of television specials based on the book and hosted by Peters appeared on PBS. The primary idea espoused was that of solving business problems with as little business process overhead as possible and empowering decision-makers at multiple levels of a company. In the December 2001 issue of Fast Company, Peters was quoted admitting that he had falsified the underlying data for In Search of Excellence. In an odd turn of events, however, he later insisted that this was untrue, and that he was the victim of an aggressive headline. Peterss latest book is The Little Big Things, released in March 2010. Peters currently lives in West Tinmouth, Vermont with his wife Susan Sargent, and continues to write and speak about personal and business empowerment and problem solving methodologies.
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ManageMent and other books
1. A BETTER INDIA: A BETTER WORLD

N R Narayana Murthy
NR Narayana Murthy, the founder chairman of Infosys, is one of the most admired entrepreneurs of India. The nation honoured him with Padma Vibhushan for his great contribution to the nation. A BETTER INDIA, A BETTER WORLD is a collection of well arranged 38 speeches by Narayana Murthy on different occasions. Mr. Murthy, who took the world by storm with software revolution spells out his vision on modern India. India is growing with one of the highest GDP growth rates in the world with the help of achievements in technology, industry & entrepreneurship. The number of people who are in the shade of hunger, unemployment, illiteracy & malnutrition are also increasing. What will it take for India to bridge this great divide? Through this book, the author tries to find a solution for this difficult question.
Once a confused leftist and now a compassionate capitalist, Narayana Murthy believes that our future development should be based on the following pillars. 1. Education. Progress based on dreams need change. Education brings this change, which increases the knowledge and assuming social responsibility. Meritocracy in admission & Autonomy in administration are required to generate world class professionals. 2. Good value system. We need courageous leaders (with good entrepreneurship & governance) with a value system where people accept modest sacrifices for the common good, who lead with example and are capable of motivating the individuals to sacrifice for the good of society. 3. Capitalism. Only through creation of wealth we can create job opportunities and thereby remove poverty. In the face of new challenges and to resurrect capitalism, Mr. Murthy visualizes a Compassionate Capitalism - by combining the power of mind and heart, the good of capitalism and socialism. 4. Globalisation. Sourcing capital from where it is cheapest, talent from where it is best available, producing where it is most efficient and selling where the markets are, without being constrained by national boundaries, the author explains how globalization is a win-win situation. The thoughts which guide the Infosys employees on accountability and transparency are worth mentioning, which is repeated in several places in the book. 1. 2. 3. 4. The softest pillow is a clear consciousness. In God we trust, everybody else brings data to the table. You can disagree with me, as long as you are not disagreeable. When in doubt, disclose.
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2. BRANDWASHED
- Martin Lindstrom
If youve ever signed up for a loyalty card, given in to your kids plea for a brand, or used Foursquare or Facebookyouve been brandwashed. In a shocking insider-account called BRANDWASHED: Tricks Companies Use to Manipulate Our Minds and Persuade Us to Buy, Martin Lindstrom, the New York Times bestselling author of Buyology, exposes the very latest and most sophisticated techniques that even the most trusted companies are using to learn everything about you-and get you to buy. Demonstrating how much things have advanced since Vance Packards bestselling classic The Hidden Persuaders a half century ago, BRANDWASHED exposes the lengths marketers will go to exploit guilt, sex, insecurity, nostalgia and more to prey upon our fears and desires: How marketers are reaching younger and y ounger children; Studies show babies recognize brands by 18 months, and can hear and remember ad jingles from the womb. How companies secretly mine our digital footprints for the most intimate details of our private lives in order to target us with ads perfectly tailored to our psychological profiles. What market Justin Bieber is actually aimed at (hint: not teens) Surprising results of an MRI study uncovering what heterosexual men really think about when confronted with sexually provocative advertising. (Hint: not their girlfriends). How certain brands purposely make their products chemically addictive How retailers capitalize on panic over viruses, weather events and food contamination scares (Guess where the $402 million market for hand sanitizers came from?) How grocery brands create an illusion of freshness for products on the shelves for months How Muzak gets programmed differently throughout the day to subconsciously persuade us to buy based on our mood
Not satisfied with research alone, Lindstrom embarked on two extreme experiments to test his findings. First, he went on a brand detox and committed to not buying a single new brand for a year until he couldnt stand it any longer. Next, he hired a family for four weeks to prove to us how much we should beware the most powerful persuader of all: our friends and neighbors. Martin Lindstrom, chairman and founder of Buyology, Inc. was named one of the Worlds 100 Most Influential people of 2009 by Time magazine. Among the worlds foremost marketers, Lindstrom advises top executives at companies such as McDonalds, Procter & Gamble, and Microsoft. His earlier book, Buyology, was a New York Times and Wall Street Journal and a USA Today Pick of the Year. He appears regularly on The Today Show, CNBC and ABC.
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3. COMPETING FOR THE FUTURE

- Gary Hamel and C.K. Prahalad
In Competing for the F uture, by Gary Hamel and C.K. Prahalad, the authors focus on techniques and production of strategic planning. The main point of the book was in order for a company to succeed into the future, they have to stop looking at the past and start focusing on future plans for the company, and stop being a follower and start being a leader . The authors focus for a few chapters on reinvention and how the corporate need it.
According to the authors, through experience and discovery, many companies have fallen flat because of their lack of regeneration. They encourage top management to hire outside the norm; this may bring a nice, fresh change to the work environment. Every employee brings a different quality to the work environment. In order to get to the future, a company must first define it. In defining the future, Hamel and Prahalad suggest assembling the best possible assumption base about the future. A companys vision changes due to the information collected. The authors also discuss how to get to the future before your competition. Shares how to amplify tomorrows corporate world. Corporate vision does not guarantee competitive success. In order for a company to be fully functional and successful, its foresight should be foreseen by continuous leverage of core competencies. And in order for top management to create a successful vision of the future, a business needs dedicated top management that can look outside the box of what the norm is and create an idea that no one has thought of yet. Too often competitors are observed by their resources and not enough by their resourcefulness. They talk about several reasons that make sense to conceive of competition for competence as inter-corporate competition. The first reason is that core competencies are not product-specific. They contribute to the competitiveness of a variety of products or services. The second reason is that a core competence contributes to the competitiveness of a range of products or services. The third reason is because the investment, risk-taking, and time frame required to achieve core competence leadership often exceeds the resources and patience of a single business unit. And lastly, only by building and nurturing core competencies can top management ensure the continuance of the enterprise. The book discusses the terms strategic intent, defining it as the dream that energizes a company is often something more sophisticated, and more positive, and strategic architecture, defining it as a high-level blueprint for the deployment of new functionalities, the acquisition of new competencies or the migration of existing competencies, and for the reconfiguring of the interface with customers. Strategic intent is strategic architectures capstone. A strategic architecture may point out the way to the future, but its an ambitious and compelling strategic intent that provides the emotional and intellectual energy for the journey. Strategic architecture is the brain; strategic intent is the heart.
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4. CORPORATE CHANAKYA
- Radhakrishnan Pillai
Chanakya, who lived in 3rd Century BC, was a leadership guru par excellence. His ideas on how to identify leaders and groom them to govern a country has been well documented in his book Kautilyas Arthashastra. This book contains 6000 aphorisms or sutras. In the present book the author simplifies the age old formula of success for leaders of the corporate world. Divided into 3 sections of Leadership, Management and Training Corporate Chanakya includes tips on various topics like organizing and conducting effective meetings, dealing with tricky situations, managing time, decision making and responsibilities and powers of a leader. Call it your guide for corporate success or a book that brings back ancient Indian management wisdom in modern format you just cannot let go the Chanakya wisdom contained in each page. Flip any page and discover the Corporate Chanakya in you About the Author: About the Author Radhakrishnan Pillai studied the ancient text Kautilyas Arthashastra at Chinmaya International Foundation, Kerala, under the guidance of Dr. Gangadharan Nair. Educated in the field of management and consultancy, he later proceeded to do his MA in Sanskrit and obtained a doctorate degree in the Arthashastra. He also started a company Atma Darshan in the field of spiritual tourism. Pillai spreads the knowledge of Chanakya to millions of people across the globe through his lectures, workshops, training programs, radio shows and articles. Director of SPM Foundation and part of University of Mumbai team, he designs various leadership programs. He is the recipient of the Sardar Patel International Award, 2009. He believes that management is a universal art that can be put to use in almost all fields and thus had explored the same through management courses in fields ranging from Industrial development, Tourism and Youth in National development and have finally got his management consultant certificate from the international Institut e of management Consultants, to spread the essence of management.
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5. FIRST, BREAK ALL THE RULES

- Marcus Buckingham and Curt Coffman
The greatest managers in the world seem to have little in common. They differ in sex, age, and race. They employ vastly different styles and focus on different goals. Yet despite their differences, great managers share one common trait: They do not hesitate to break virtually every rule held sacred by conventional wisdom. They do not believe that, with enough training, a person can achieve anything he sets his mind to. They do not try to help people overcome their weaknesses. They consistently disregard the golden rule. And, yes, they even play favorites. This amazing book explains why.
Marcus Buckingham and Curt Coffman of the Gallup Organization present the remarkable findings of their massive in-depth study of great managers across a wide variety of situations. Some were in leadership positions. Others were front-line supervisors. Some were in Fortune 500 companies; others were key playe rs in small, entrepreneurial companies. Whatever their situations, the managers who ultimately became the focus of Gallups research were invariably those who excelled at turning each employees talent into performance. In todays tight labor markets, companies compete to find and keep the best employees, using pay, benefits, promotions, and training. But these well-intentioned efforts often miss the mark. The front-line manager is the key to attracting and retaining talented employees. No matter how generous its pay or how renowned its training, the company that lacks great front-line managers will suffer . Buckingham and Coffman explain how the best managers select an employee for talent rather than for skills or experience; how they set expectations for him or her they define the right outcomes rather than the right steps; how they motivate people they build on each persons unique strengths rather than trying to fix his weaknesses; and, finally, how great managers develop people they find the right fit for each person, not the next rung on the ladder. And perhaps most important, this research which initially generated thousands of different survey questions on the subject of employee opinion finally produced the twelve simple questions that work to distinguish the strongest departments of a company from all the rest. This book is the first to present this essential measuring stick and to prove the link between employee opinions and productivity, profit, customer satisfaction, and the rate of turnover. There are vital performance and career lessons here for managers at every level, and, best of all, the book shows you how to apply them to your own situation.
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6. FIVE POINT SOMEONE

- Chetan Bhagat
The novel is set in the Indian Institute of Technology Delhi, in the period 1991 to 1995. It is about the adventures of three mechanical engineering students (and friends), Hari Kumar (the narrator), Ryan Oberoi, and Alok Gupta, who fail to cope with the grading system of the IITs. Ryan is a bit smart and outspoken, whereas Alok and Hari are mildly cry babies. The three hostelmates Alok, Hari and Ryan get off to a bad start in IIT they mess up the first class quiz. And while they try to make amends, things only get worse. It takes them a while to realize: If you try and mess with the IIT system, it comes back to double mess you. Before they know it, they are at the lowest echelons of IIT society. They have a five-point-something GPA out of ten, ranking near the bottom of their classes.
If you are an IITian, you will probably relate very well to this light-hearted narrative about the life of these three average guys at the Indian Institute of Technology, Delhi. If you are not an IITian, you will still enjoy this book. Five Point Someone: What Not to Do at IIT may be about life in IIT , but the characters are as interesting as in any other book and are very un-IIT like (That says a lot). According to the author, Chetan Bhagat, this book is not about how to get into IIT or what to do once you are in, but what not to do there. The book is narrated in the first person by Hari, with some small passages by his friends Ryan and Alok, as well as a letter by Haris girlfriend Neha Cherian. It deals with the lives of the three friends, whose elation on making it to one of the best engineering colleges in India is quickly deflated by the rigor and monotony of academic work. Most of the book deals with the numerous attempts by the trio to cope with and/or beat the system as well as Haris fling with Neha who just happens to be the daughter of Prof. Cherian, the domineering head of the Mechanical Engineering Department. Their most important attempt was C2D (Cooperate to Dominate). The autobiographical account lends itself to fine character development. The book is fast paced and has very funny conversational style plus lingo typical to those who come from the institution. A little eccentric (little may be the understatement of the year), IITians may be, but they are considered to be one of the most elite groups in the world .
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7. GOOD TO GREAT: WHY SOME COMPANIES MAKE THE LEAPAND OTHERS DONT Jim Collins, also the co-author of Built To Last, spent 5 years analyzing what separates good companies from great companies and good managers from great managers. The result is the bestseller Good to Great. This book is a study of companies that not only excel in what they do, but provide amazing returns on investors money. This book is about the steps the people who lead good companies take to make them great. Here are some key points from Good to Great. 1. Growth in most companies comes after years and years of trying to adapt to the marketplace and finding a niche while becoming something the employees and management believe in. The culture that arises is what often makes the company successful.
Jim Collins
2. Great managers worry more about getting good people rather than having a flawless business strategy. Once great managers have the employees they want, then they think about and plan business strategy. 3. Most great CEOs come from within the companys ranks, which makes sense because they are more familiar with the companys ins and outs and the culture of the company than would anyone hired from the outside. This is also a good motivational toolif employees know they have a shot at the top spot, theyll want to get there. Employees will often see an executive brought in by management as an outsider 4. Executives want a challenging, rewarding workplace more than they want large salaries. A large salary may get an employee to come aboard, but it wont make them stay. Executives want to believe in the company and what it does. Good to Great is a great book for anyone who leads others in any kind of business, whether it is ten people or a huge multinational corporation.
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8. HOW TO WIN FRIENDS & INFLUENCE PEOPLE

- Dale Carnegie
For more than sixty years the rock-solid, time-tested advice in this book has carried thousands of now famous people up the ladder of success in their business and personal lives. Learn : Three fundamental techniques in handling people The six ways to make people like you The twelve ways to win people over to your way of thinking The nine ways to change people without arousing resentment
This grandfather of all people-skills books was first published in 1937. It was an overnight hit, eventually selling 15 million copies. How to Win Friends and Influence People is just as useful today as it was when it was first published, because Dale Carnegie had an understanding of human nature that will never be outdated. Financial success, Carnegie believed, is due 15 percent to professional knowledge and 85 percent to the ability to express ideas, to assume leadership, and to arouse enthusiasm among people. He teaches these skills through underlying principles of dealing with people so that they feel important and appreciated. He also emphasizes fundamental techniques for handling people without making them feel manipulated. Carnegie says you can make someone want to do what you want them to by seeing the situation from the other persons point of view and arousing in the other person an eager want. You learn how to make people like you, win people over to your way of thinking, and change people without causing offense or arousing resentment. For instance, let the other person feel that the idea is his or hers, and talk about your own mistakes before criticizing the other person. Carnegie illustrates his points with anecdotes of historical figures, leaders of the business world, and everyday folks.
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9. IMAGINING INDIA: THE IDEA OF A RENEWED NATION

- Nandan M. Nilekani Although Imagining India will undoubtedly raise some hackles, this is a very powerful and important book that needs to be taken seriously. Nilekani presents a decent historical picture of India since Partition and includes an annotated timeline at the back of his book. And he takes a very clear-eyed look at the present, seeing enormous room for improvement. There is an old saying that the first step to correcting a problem is recognizing that a problem exists. Soberly and succinctly, Nilekani recognizes and addresses Indias problems head-on and offers a variety of practical and innovative proposals.
At the same time that India is growing its economy and raising the standard of living for its citizens, there are serious problems with shortages of drinking water, roads, schools, dependable electricity, load-shedding, pollution and environmental degradation. Serious infrastructure reforms are needed. Political corruption, industrialization, lack of uniform sanitation policies, need for universal literacy, environmental degradation, and serious energy problemd are prevalent. The book is essentially a business plan for improvement. Offering economic, environmental, political, and IT suggestions and solutions on where and how India might cut through the murk to become a world leader in environmental and business reform, Nilekani makes a lot of sense. Rather than simply pushing IT solutions at the reader as some reviewers have suggested, Nilekani has thoughtfully interviewed many different kinds of specialists and authorities. Many of the thinkers and practioners referenced in this book are from India; others are from across the globe. Collectively they offer practical and sensible solutions for moving the country ahead. Nilekani writes: I have noticed that people outside the country often sound far surer about where we are headed than Indians themselves. In this, India is a bit like a Monet paintingfrom a distance, the picture seems clear. It presents an image of an increasingly liberal, outwardlooking country that is eager for the opportunities that are now within its grasp. But close up, our reality is less straight-forward. many Indians stay cautious about our economic future and fiercely disagree on fundamental policies.[pg 274] What our reforms must really envision for growth, and for inclusive growth in particular, is rather a golden mean where power is balanced between our various players and where no one can assume overweening control. A new vision for the statewhether as a provider of services or as a regulatoris a search for the statewhether as a provider of services or as a regulator is a search for this golden mean, a balance between government, markets and civil society.[pg 336] New way of doing things that leapfrog the outmoded thinking of old politicians in a young world, are needed. Wind, solar, water, nuclear and IT solutions are all presented as options. Nilekani accepts no excuses. He tells his countrymen to stop blaming the British, the Americans,
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10. IN SEARCH OF EXCELLENCE: LESSONS FROM AMERICAS BEST-RUN COMPANIES

- Thomas J. Peters and Robert H. Waterman, Jr. The book was written in by two McKinsey consultants - Tom Peters and Robert Waterman - at a time of crisis for American industry. Politically, America was falling behind in the Cold War against Russia. Economically, the country was stilled gripped by stag-flation stagnation coupled with inflation. America was facing a crisis in competiveness and its position as the world economic superpower was being threatened by Japan and West Germany. Managers brought up in the mode of Ford, General Motor and IBM suddenly realized that simply doing what they did yesterday might not be good enough for tomorrow and looked for help. They found it partly on the book-stands. Peters and Waterman identified eight qualities possessed by excellent companies: 1. A bias for action a preference for doing something, anything rather than sending a question through cycles of analysis and committee reports. 2. Close to the customer - learning their preferences and catering to them. 3. Autonomy and entrepreneurship breaking the corporation into small companies and encouraging them to think independently and competitively. 4. Productivity through people creating in all employees the awareness that their best efforts are essential and they will share in the rewards of the companys success. 5. Hands-on, value driven insisting that executives keep in touch with the firms essential business. 6. Stick to the knitting remaining with the business the company knows best. 7. Simple form, lean staff few administrative layers, few people at the upper levels. 8. Simultaneous loose tight properties fostering a climate where there is dedication to the central values of the company combined with tolerance for all employees who accept those values. They subsequently identified 43 companies out of the Fortune 500 and held them up as bastions of excellence, measured by six financial yardsticks over 20 years: 1. Compound asset growth 2. Compound equity growth 3. Ratio of market value to book value 4. Return on capital 5. Return on equity 6. Return on sales After the book was published, however, some of the comp anies featured ceased to be excellent. Some totally tanked including Atari, Avon, DuPont and Wang. This led to the thinking behind Peters follow up book Thriving on Chaos and the ethos that excellence was not a static quality to be attained forever, but that it required constant change and adaptation.
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11. MY YEARS WITH GENERAL MOTORS

- Alfred P . Sloan, Jr.
Only a handful of business books have reached the status of a classic, having withstood the test of over thirty years time. Even today, Bill Gates praises My Years with General Motors as the best book to read on business, and business week has named it the number one choice for its bookshelf of indispensable reading. My Years with General Motors became an instant bestseller when it was first published in 1963. It has since been used as a manual for managers, offering personal glimpses into the practice of the discipline of management by the man who perfected it. This is the story no other businessman could tell - a distillation of half a century of intimate leadership experience with a giant industry and an inside look at dramatic events and creative business management.
When Alfred P Sloan, Jr, joined General Motors in 1918, the company was in crisis and its future in doubt. Today G.M. is among the largest industrial complexes in the world and a keystone of the American economy. My Years with General Motors describes the early innovations and development in the companys basic management policies and strategic concepts in such areas as planning and strategy, stabilization, financial growth, and leadership. Draft your own blueprint for organizational success by using the tools found in this book. Learn the valuable lessons that only Sloan could teach.
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12. THE 7 HABITS OF HIGHLY EFFECTIVE PEOPLE : POWERFUL LESSONS IN PERSONAL CHANGE
- Stephen R. Covey
The book first introduces the concept of Paradigm Shift and prepares the reader for a change in mindset. It helps the reader understand that there exists a different perspective, a viewpoint that may be different from his own and asserts that two people can see the same thing and yet differ with each other . Once the reader is prepared for this, it introduces the seven habits, in a proper order. Each chapter is dedicated to one of the habits. Habit 1: Be Proactive Take initiative in life by realizing that your decisions (and how they align with lifes principles) are the primary determining factor for effectiveness in your life. Take responsibility for your choices and the consequences that follow. Habit 2: Begin with the End in Mind
Self-discover and clarify your deeply important character values and life goals. Envision the ideal characteristics for each of your various roles and relationships in life. Create a mission statement. Habit 3: Put First Things First Prioritize, plan, and execute your weeks tasks based on importance rather than urgency. Evaluate whether your efforts exemplify your desired character values, propel you toward goals, and enrich the roles and relationships that were elaborated in Habit 2. Habit 4: Think Win-Win Genuinely strive for mutually beneficial solutions or agreements in your relationships. Value and respect people by understanding a win for all is ultimately a better long-term resolution than if only one person in the situation had gotten his way. Habit 5: Seek First to Understand, Then to be Understood Use empathic listening to be genuinely influenced by a person, which compels them to reciprocate the listening and take an open mind to being influenced by you. This creates an atmosphere of caring, respect, and positive problem solving. Habit 6: Synergize Combine the strengths of people through positive teamwork, so as to achieve goals no one person could have done alone. Get the best performance out of a group of people through encouraging meaningful contribution, and modeling inspirational and supportive leadership. Habit 7: Sharpen the Saw Balance and renew your resources, energy, and health to create a sustainable, long-term, effective lifestyle. It primarily emphasizes on exercise for physical renewal, prayer (meditation, yoga, etc.) and good reading for mental renewal. It also mentions service to the society for spiritual renewal.
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13. THE ESSENTIAL DRUCKER

- Peter Drucker
Peter Drucker is perhaps the best known and respected of all business authors. Born in 1909 in Vienna. Educated in England and Germany. Worked in Germany, England and the US. Published his first book in 1939 and continued publishing until his death in 2005. In all he published 39 books which were translated into more than 30 languages plus tons of articles and other items. He coined the term knowledge worker . The list goes on. Hes usually quoted by many in the management. All good reasons to see what he has to say and so Mr. Drucker was encouraged to participate in a project that would summarize some of his best insights; especially those that time has proven correct or which are still valid today. The culmination of this project was The Essential Drucker: The Best of Sixty Years of Peter Druckers Essential Writings on Management .
Some of this stuff was written so long ago it serves as a history of how business used to beand still is in many ways. Mr. Druckers language is very intelligent, academic, concise and insightful. Almost every days reading yielded one or two tweetable quotes. Here are 6 of them: Authority and responsibility are two sides of the same coin. You cannot require one without granting the other. People are influenced by how they see others rewarded. When rewards go to nonperformance, flattery or cleverness the organization declines.
As businesses grow the founder should ask 1-what does the business need; 2-what of that am I good at; and 3-which do I want to do? for Premium pricing is an illusion, a bad habit, an invitation to competitors and a subsidy newcomers. Brilliant people are often ineffectual; they fail to realize insight is not itself achievement which comes only through hard work. The essence of management is to make knowledge productive. It is therefore a social function; a liberal art.
If you are in business, any kind of business whether it be your own small internet business or whether you work for a large corporation, this book is a Definitely Should Read. If you really like it a lot, there are 38 other Drucker books you might check out.
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14. THE FORTUNE AT THE BOTTOM OF THE PYRAMID: ERADICATING POVERTY THROUGH PROFITS - C. K. Prahalad
An idea can change the world... How to serve the worlds poorest people and make a profit New strategies and tactics for building winning businesses in todays emerging markets New bottom of the pyramid trends in technology, healthcare, consumer goods, finance, and beyond Insights from top CEOs succeeding in emerging markets New and updated case studiesfrom Jaipur Rugs revolutionary supply chain to Reuters data services for farmers
C.K. Prahalads The Fortune at the Bottom of the Pyramid showed companies how they could reignite profits and growth by serving the worlds five billion poorest people. Hundreds of firms have successfully taken that pathbuilding large, profitable businesses that are reducing poverty and eliminating human misery at the same time. Prahalad updated his extraordinary book to reflect the lessons of the past five years: businessbuilding strategies, techniques, and innovations proven to work in emerging markets. The fortune at the bottom of the pyramid: doing well by doing good or doing good by doing well! In this 5th Anniversary Edition, Prahalad updates his book to give readers a picture of how this idea is being implemented in poor regions around the world. Prahalad also offers an up-to-the-minute assessment of key questions such as: Is there truly a market? Is there scale? Is there profit? Is there innovation? Is this a global opportunity? Five years ago, executives could be hopeful that the answers to these questions would be positive. Now, as Prahalad demonstrates, they can be certain of it. Solving the unique problems faced by bottom of pyramid customers How to make a profit by helping people escape poverty and misery Breakthrough forms of innovation for emerging markets From rugs to cell phones, finance to energy, supply chains to state-of-the-art technology Building new ecosystems for wealth creation You cant do it alonebut you can do it together Scaling up to impact the enterpriseand society Beyond micro-businesses and prototypes: large presence, large wins.
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15. THE GOAL

- Eliyahu Goldratt
The Goal: A Process of Ongoing improvement is a book written in narrative form that tells the fictional story of Alex Rogo, a plant manager for UniCo Manufacturing, whose plant is performing poorly and is given three months to significantly improve or face a shutdown of the entire plant. This groundbreaking business novel, first published in 1984, gives significant insight into the day-to-day life of an operations manager and challenges common business practices and thought processes. The books authors, Eliyahu M. Goldratt and Jeff Cox, through their colorful story, are able to show how business practices and thought processes have strayed from what they should be.
The Goal also shows that business thinking is based upon too many assumptions that are accepted at face value. Basically, people arent questioning the things that they are being told are true. In Alexs case, it is assumed that if operating costs per unit are down and efficiencies are up then the company is being productive. However, these measurements neglect the bottom line. They should be less concerned with measurements that do not contribute to the success and profitability of the company. Basically what the authors are saying is that managers should exercise common sense in their decisions. In the book, Alexs superiors at the division level of the company are concerned primarily with productivity and efficiency of plant operations. Alexs boss, Bill Peach, is constantly harassing him over his plants productivity and efficiency metrics. UniCo is concerned with how the cost per unit produced is increasing and believes that in order for the plant to be profitable it must run its machines at capacity and not have any idle time in labor. Unicos concern over having a low cost per unit is a prime example of how a companys management can lose sight of what is really important. In the case of UniCo, what should be important is how much money is being contributed to the bottom line, regardless of machine and labor efficiency. This book also demonstrates how UniCos view of improvement, as being a reduction in its operating expenses, is flawed. Although it is good to reduce costs, it comes at a cost to the company because they are not increasing throughput, which leads to an increase in sales and they arent focused on reducing their inventories, which also provides substantial cost savings. Goldratt and Coxs greatest contribution to the business world is the introduction of the theory of constraints. Theory of Constraints (TOC) is an overall management philosophy that is geared to help organizations continually achieve their goal. The TOC process seeks to identify the constraint and restructure the rest of the organization around it.
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16. THE POWER OF POSITIVE THINKING

- Norman Vincent Peale
This book is written by Norman Vincent Peale. Peale was born in Bowersville, Ohio and graduated from Bellefontaine, Ohio. He earned degree at Ohio Wesleyan University and Boston University School of Theology. You do not need to be defeated by anything, you can have peace of mind, improved health, and a never-ceasing flow of energy. In short your life can be full of joy and satisfaction. It is written with deep concern for the pain, difficulty and struggle of human existence. The Power of Positive Thinking is a practical, direct-action application of spiritual techniques to overcome defeat and win confidence, success and joy. It teaches positive thinking, not as a mean to fame, richness of power, but at the practical application of faith to overcome defeat and accomplish worthwhile creative value in life but one which offers great joy to the person who achieves victory over himself and the difficult circumstances of the world.
Norman Vincent Peale, the father of positive thinking and one of the most widely read inspirational writers of all time, shares his famous formula of faith and optimism which he developed himself by trial and error whilst searching for a way of life. Millions of people have taken Peales teachings as their own simple and effective philosophy of living. His gentle guidance helps to eliminate defeatist attitudes, to know the power you possess and to make the best of your life. Youll learn how to: Expect the best and get it Believe in yourself and in everything you do Develop the power to reach your goals Break the worry habit and achieve a relaxed life Improve your personal and professional relationships Assume control over your circumstances Be kind to yourself
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17. THE TIPPING POINT: HOW LITTLE THINGS CAN MAKE A BIG DIFFERENCE
- Malcolm Gladwell
By offering readers a groundbreaking analysis of how trends are sparked and take hold, Malcolm Gladwells book The Tipping Point became an exemplification of the very processes he was describing. Upon its 2000 release, the book became a national bestseller whose influence would help to initiate paradigm shifts in fields ranging from marketing to public health. The processes and mechanisms by which some trends achieve exponential popularity while others sputter and fade into oblivion have long been thought to be mysterious and resistant to analysis. However, Gladwells central argument is that there are actually a number of patterns and factors that are at play in virtually every influential trend, ranging from the spread of communicable diseases to the unprecedented popularity of a particular childrens television show. If you analyze the evolution of any major phenomenon, the author suggests, you will find that the processes involved are strikingly similar. The nature of modern culture is such that many new ideas are constantly being introduced from a wide variety of sources, ranging from trend-setting teens and twenty- somethings in the nations metropolitan centers to new product offerings from established corporations. Some of these achieve a measure of steady, consistent success, some fail, and some take off on an upward trajectory of exponential popularity and influence. Based on his in-depth research spanning a number of different fields, industries, and scholarly disciplines, Gladwell identifies three key factors that each play a role in determining whether a particular trend will tip into wide-scale popularity. Gladwells discussion and illustration of the concepts of the Law of the Few, the Stickiness Factor, and the Power of Context comprise the majority of the book. After identifying and describing these key concepts, Gladwell dedicates the remainder of the book to illustrating them and their interdependency in a series of compelling case studies and examples. An afterword included in the newest edition of the book updates some of Gladwells arguments for more pertinent application in an era of widespread Internet connectivity.
38
18. THE WINNING WAY : LEARNINGS FROM SPORT FOR MANAGERS

- Harsha and Anita Bhogle
What do sporting champions do, what makes winning teams, who is a good leader, why do only some teams keep winning while others win only for a while and then lose? Two IIMA alumni, Sports commentator and writer Harsha Bhogle and advertising and communication consultant Anita Bhogle dig into examples from sport to see how they can benefit managers. Contrary to popular perception ability is not a major distinguishing factor in success, especially as the level of competition increases. But if you combine your ability with the right attitude and the passion to excel, you too can become the best that you can be. That is the universal formula for winning that The Winning Way explores. For Anita and Harsha Bhogle, this book marks the completion of 300 successful corporate workshops of The Winning Way that they run.
The Bhogles saw that there was a connection between sports and management, and there would rarely be a person who does not understand sports. And this management book borrowed the language of sports, and it is a very easy read. Sports anecdotes are always fun, and in this book the authors take tales from Cricket, Tennis, Golf, and even Basketball at times among other sports and find a connect between attaining your goals, leadership, winning, sustaining the winning habit, and more importantly losing. The Australian team of the past decade finds frequent references thanks to their incessant victories, Sachin Tendulkar is mentioned more times than any other individual (deservedly so), Martina Navratilova, Lance Armstrong, Pete Sampras, Steve Waugh, Bjorn Borg, Michael Jordon crop up frequently when the authors are talking about the successful brands and how they achieved their success.
39
19. THE WORLD IS FLAT: A BRIEF HISTORY OF THE TWENTY-FIRST CENTURY

- Thomas L Friedman
Thomas Friedmans examination of the influences shaping business and competition in a technology-fueled global environment is a call to action for governments, businesses and individuals who must stay ahead of these trends in order to remain competitive. In a narrative punctuated by case studies, interviews and sometimes surprising statistics, Friedmans message is clear: be prepared, because this phenomenon waits for no one. Without rhetoric or scare tactics, he paints a picture of a world moving faster than most can keep up. As we explore Americas place in the fast-evolving world economic platform, Friedman presents not only the problems we face, but preventative measures and possible solutions.
The World is Flat is an historical and geographical journey, with stories and anecdotes from the days of Columbus to a modern day Indian call center; from the Great Depression to the home office of a Midwestern-USA housewife demonstrating the pervasiveness of the world-flattening trend. Spanning a broad range of industries, cultures and schools of thought, the real-world examples presented as evidence of his theory are undeniable. From teleconferencing to podcasts and manufacturing to restaurant order taking, The World is Flat leaves no stone unturned in a quest for answers to a problem that most cannot even define. Friedmans dissection of globalization is a valiant attempt at explaining and understanding the forces driving the flattening of the world, though he admits that the very nature of beast prevents one from having all of the answers. This candor is in keeping with the theme of the entire book, in that we must learn how to learn, teaching ourselves to stay curious and innovative, if we are to excel in a global economy. As he moves towards the end of this presentation of his theory, Friedman warns of the forces that could seriously harm or slow the flattening of the world, particularly the threat posed by terrorist networks such as Al-Qaeda. His perspective is refreshing in a media driven largely by scare tactics and fear mongering as he encourages a realistic and objective approach to this threat. As people become more able to collaborate, compete and share with others of different cultures, religions, educational backgrounds and languages, The World is Flat is a necessary reality check to bring these factors into perspective and offer, if not answers to every problem, the drive to uncover working solutions.
40
20. WHAT GOT YOU HERE WONT GET YOU THERE

- Marshall Goldsmith, Mark Reiter
What an amazing book! Goldsmith outlines an incredible set of minor habits and traits of a person who has led a successful life and pinpoints how each person has some of these that really hold them back from going farther in their lives. The main theme is that successful people generally believe that their bad habits are what got them to their current place so they seem like good things. This is not necessarily true and these beliefs are typically limiting success from going further. Goldsmith explores a process to identify these habits and the impact they have on others, to then plan and change those by minor adjustments and feedback over 12-18 months and to specifically focus and measure these parameters to ensure the changes stick. All this leads you and will set you up to be even MORE successful.
Overall, the book is simply excellent! The habits listed and the way the impact to others is described is deadly accurate. Goldsmith also clearly describes these habits and makes it very easy to identify with each of them as he describes areas to improve on. I never saw how my own attitudes of some of these concepts is something that feeds who I am and that some of those need to change in order to improve myself even farther. Id definitely recommend this book, but only to someone who really is looking forward to improving their relations and is willing to make some commitments to change. Otherwise, the book would probably be useless. Goldsmith himself talks about those he coaches and only works for those who truly are committed to changing so reading this book and really making it useful requires the same type of person.
41
21. WINNING
- Jack Welch, Suzy Welch
Jack Welch knows how to win. During his forty-year career at General Electric, he led the company to year-after-year success around the globe, in multiple markets, against brutal competition. His honest, be-the-best style of management became the gold standard in business, with his relentless focus on people, teamwork, and profits. Since Welch retired in 2001 as chairman and chief executive officer of GE, his objective has been to speak to people at every level of an organization, in companies large and small. His audience is everyone from line workers to MBAs, from project managers to senior executives. His goal is to help everyone who has a passion for success.Inspired by his audiences and their hunger for straightforward guidance, Welch has written both a philosophical and pragmatic book, which is destined to become the bible of business for generations to come. It clearly lays out the answers to the most difficult questions people face both on and off the job. Welch begins Winning with an introductory section called Underneath It All, which describes his business philosophy. He explores the importance of values, candor, differentiation, and voice and dignity for all. The core of Winning is devoted to the real stuff of work. This main part of the book is split into three sections. The first looks inside the company, from leadership to picking winners to making change happen. The second section looks outside, at the competition, with chapters on strategy, mergers, and Six Sigma, to name just three. The next section of the book is about managing your career from finding the right job to achieving work-life balance. Welchs optimistic, no excuse, get-it-done mind-set is riveting. Packed with personal anecdotes, Winning offers deep insights, original thinking, and solutions to nuts-and-bolts problems that will change the way people think about work.
42
22. YOU CAN WIN

- Shiv Khera
With a strong introduction stating that Winners dont do different things, they do things differently the author instantaneously puts the reader at the beginning of the road to success. You know how to walk on with the help of a wellwritten preface, which familiarizes you with the book genre, the book contents, and how to approach them. So now you are well on your mark and set to go. But your start is not at a normal speed but at a lightning speed. Why? This is because the author starts with the first lap of the race, Importance of Attitude, with a realistic example that gives you a strong lead. This lap talks on how your attitude is a strong contributor to your success and thus further explains factors that determine your attitude along with a convincing explanation on positive attitude Vise-verse negative attitude. But he doesnt leave you estranged on this road of self-improvement. The next lap explains broadly on How to build a Positive Attitude. All with examples that you can relate to and anecdotes that inspire you to keep looking forward.
In the next lap, it tells you what is Holding you back from reaching to your desired Goal. A SWOT analysis is included which gives you a complete insight to yourself. It teaches you to accentuate your strengths so that you can mo ve forward holding your head high. It talks about your weaknesses, the reasons for your failures and gives the necessary solutions. The next two laps Motivate you and boost your Self-esteem. The book acts like a coach who is running with you and encouraging you to move at an even faster pace. The next lap brushes your Interpersonal Skills. It gives paramount importance to them by mentioning how life is a boomerang and an echo. On your 8th lap your companion tells you 25 steps to Building a Positive Attitude. Here, sense of responsibility, accepting your mistakes and further mending them, avoiding criticism, good listening, being enthusiastic, honest and faithful, thinking positive and smiling, is detailed by the author. The next lap complements the earlier lap by talking about your Subconscious Mind and Habits. The book further takes your positivity to the peak and unmasks you to present to you the real you. No pretense, a clean and candid you all zooming ahead to procure your goal. The next lap takes you further by detailing on Goal Setting. It not only reminds you about your goal but also talks about SMART goals with a perfect balance of reality and accomplishment. The final lap Values and Vision ensures that you do the right thing for the right reason. Talking about ethics, culture, commitment all it plunges into talking about winners. The book serves you enough energy boosters in your run by providing action plans after every chapter that assesses you completely. You dont ge t dehydrated and are always perked up by the writers style, which makes even hackneyed topics interesting. The author mentions a point, gives a logical explanation and then makes it convincing by narrating stories, jokes, quotations, and giving testimonials for the same. They are something you can relate to and are out of sheer experience. So in a nutshell like Economic Times puts it You Can Win is a construction manual with the blueprints to build a rewarding life. No doubt that the book is also an ABSOLUTE WINNER!
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Major indUstries and CoMpanies
1. AUTOMOBILE SECTOR
With the de licensing of the auto industry in 1991, this is one of the sunrise industries in the country today. The passenger car segment was de licensed in 1993. At present 100% FDI is permissible in the automatic route in this segment including the passenger car segment. With liberalization, the number of manufacturing units in the country has grown progressively. When we talk of the Automobile sector we refer to auto manufacturing as well as to auto component sectors. While it provides direct employment, both these sectors also have a multiplier effect. The two wheeler segment and the passenger vehicles are the largest contributors. 13.37 Million two wheelers were produced in 2010-11 and the corresponding number for passenger cars was 2.98 Million. Some of the factors that will propel growth in the automobile sector are as follows Rising industrial and agricultural output Rising per capita income Rising working population and middle class urbanization Attractive financing On a more global scale India is the 9 th largest producer of 4 wheelers in the world and the second largest two wheeler producer. Our engineers are also increasingly employed in design roles.
45
Company
CEO / Chairman / MD
Net Sales (Rs. Cr,) 2011-12
PAT (Rs. Cr.) 201112
No. of Employees
Main Brands
Competitors
HQ
Automotives Cars and Jeeps
Maruti Suzuki
Shinzo Nakanish MD
36,561.5
2,288.6
6903
Mahindra & Mahindra
Anand Mahindra MD
31,852.64
2,878.9
15147
Hindustan Motors
Uttam Bose MD
495.48
-29.9
NA
800 Omni Gypsy Alto Zen Swift Estilo SX4 Swift DZire A-star Ritz Eeco Alto K10 Maruti Ertiga Maruti XA Alpha (to be launched in 2014) Mahindra Armada Mahindra Commander Mahindra Marshal Mahindra Major Mahindra Legend Mahindra Invader Mahindra Bolero Mahindra Xylo Mahindra Scorpio Mahindra Verito Mahindra XUV500 Ambassador Hindustan Winner RTV Ranger Mascot T480 FC
Hyundai Chevrolet Mahindra and Mahindra Toyota Volkswagen Ford Motors Nissan
New Delhi
Maruti Suzuki Chevrolet Toyota Volkswagon Ford Motors Force Motors
Mumbai
Maruti Suzuki Mahindra and Mahindra Toyota Tata Motors
Kolkota
Automotive LCVs and HCVS Tata Motors
Ratan Tata Chairman Ravikant Vice Chairman
54,217.22
1,242.2
59759
Tata Nano Tata Ace Tata Indica Tata Aria Tata Indigo Tata Marina Tata Manza Tata Sumo Tata Estate Tata Grenade Tata Vista Tata Iris Tata Magic
Maruti Suzuki Hyundai Mahindra and Mahindra Toyota Nissan
Mumbai
46
Company
CEO / Chairman / MD
Net Sales (Rs.Cr,) 2011-12
PAT (Rs.Cr,) 2011-12
No.of Employees
Main Brands
Competitors
HQ
Ashok Leyland
Dheeraj Hinduja Chairman R Seshasayee Executive Vice Chairman
13,309.59
565.9
15812
Luxura Viking BS-I city bus Viking BS-II city bus Viking BS-III city bus Cheetah BS-I Cheetah BS-II Panther 12M bus Stag Mini Stag CNG 222 CNG Lynx Double Decker Vestibule bus Airport Tarmac Coach Gensets
Ashok Leyland Tata Motors
Chennai
Automotives 2 and 3 Wheelers Bajaj Auto
Rahul Bajaj Chairman
19,516.65
3,004.1
10250
Hero Motocorp
Brijj Mohan Lal Munjal Chairman Pawan Munjal MD and CEO
19,366.97
1,927.9
NA
TVS Motors
Venu Srinivasan Chairman and MD
6,179.48
194.6
NA
Chetak Vespa Kawasaki Bajaj Classic Pulsar Discover Avenger Saffire Eliminator Kristal Hero Cycles Sleek Street Achiever Ambition CBZ CD 100 Hunk Glamour Karizma Passion Impulse Splendour Ignitor Maestro CD Dawn Pleasure Apache Wego Scooty Streak Scooty Peppy TVS Sport TVS Jive TVS Flame SR TVS Star City TVS Sport TVS Max 4R
Hero Motocorp Kinetic TVS Motors
Pune
Bajaj Auto Kinetic TVS Motors
New Delhi
Bajaj Auto Hero Motocorp Kinetic
Chennai
47
2. BANKING AND FINANCIAL SERVICES AND INSURANCE

Banking, Financial Services and Insurance (also known as BFSI) is an industry term of art for companies that provide a range of such products/services. Banking may include core banking, retail, private, corporate, investment, cards and the like. Financial Services may include stock-broking, payment gateways, mutual funds etc. Insurance covers both life and non-life. This term of art is commonly used by IT/ITES/BPO companies and technical/professional services firms that manage data processing, application testing and software development activities in this domain.
The banking industry in India has a huge canvas of history, which covers the traditional banking practices from the time of Britishers to the reforms period, nationalization to privatization of banks and now increasing numbers of foreign banks in India. Therefore, Banking in India has been through a long journey. Banking industry in India has also achieved a new height with the changing times. The use of technology has brought a revolution in the working style of the banks. Nevertheless, the fundamental aspects of banking i.e. trust and the confidence of the people on the institution remain the same. The majority of the banks are still successful in keeping with the confidence of the shareholders as well as other stakeholders. However, with the changing dynamics of banking business brings new kind of risk exposure. The Banking Industry was once a simple and reliable business that took deposits from investors at a lower interest rate and loaned it out to borrowers at a higher rate. However deregulation and technology led to a revolution in the Banking Industry that saw it transformed. Banks have become global industrial powerhouses that have created ever more complex products that use risk and securitization in models that only scholars and practitioners of higher standards can understand. Through technology development, banking services have become available 24 hours a day, 365 days a week, through ATMs, at online banking, and in electronically enabled exchanges where everything from stocks to currency futures contracts can be traded. The banking industry at its core provides access to credit. In the lenders case, this includes access to their own savings and investments and interest payments on those accounts. In the case of borrowers, it includes access to loans for the credit worthy at a competitive interest rate. Banking services include transactional services such as verification of account details, account balance details and the transfer of funds, as well a advisory services that help individuals and institutions to properly plan and manage their finances. Online banking channels have become key.
48
Company
CEO / Chairman / MD
PAT (Rs. Cr.) 2011-12
No. of Employees
Main Brands/ Services
Competitors
HQ
Private Banks ICICI Bank KV Kamath Chairman Chanda Kochar MD / CEO 33,542.65 6,465.26 79,978 (2011) Credit cards, Consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, wealth management Credit cards, consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, wealth management Credit cards, consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, wealth management Corporate and Institutional Banking, Financial Markets, Investment Banking, Corporate Finance, Retail Banking, Business and Transaction Banking, and SBI HDFC Axis Bank Kotak Mahinda Mumbai
R
ICICI Bank SBI Kotak Mahindra Axis Bank Mumbai
HDFC Bank
Aditya Puri MD
27,286.35
5,167.09
55,752 (2011)
Axis Bank
Adarsh Kishore (Chairman) Shikha Sharma (MD & CEO)
21,994.65
4,242.21
21,640
ICICI Bank SBI Kotak Mahindra Yes Bank
Mumbai
YES Bank
Dr. Rana Kapoor MD
6,307.36
1,085.05
11,000 (approx.)
ICICI Bank HDFC SBI Kotak Mahindra
Mumbai
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Company
CEO / Chairman / MD
Net Sales (Rs.Cr,) 2011-12
PAT (Rs.Cr,) 2011-12
No.of Employees
Main Brands Services
Competitors
Kotak Mahindra Bank
Uday Kotak (Vice Chairman) & (MD)
6,180.24
977.00
20,000 (approx)
Deposit accounts, Loans, Investment services, Business banking solutions, Treasury and Fixed income products etc.
ICICI Bank HDFC Axis Bank SBI
Public Sector Banks SBI
R
Pratip Chaudari Chairman 106,521.45 11,686.01 292,215 Credit cards, Consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, wealth management Credit cards, consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, wealth management Investment Banking Consumer Banking Commercial Banking Retail Banking Private Banking Asset Management Pensions Mortgages Credit Cards ICICI Bank HDFC PNB
PNB
K R Kamath Chairman and MD
36,428.03
4,884.20
56,928
SBI Canara Bank ICICI Bank HDFC Bank
Canara Bank
Sunderrajan Raman (CMD)
30,850.62
3,282.71
44,450
SBI PNB Bank of Baroda HDFC Bank
50
Bank of Baroda
MD Mallya Chairman and MD
29,673.72
5,006.96
NA
Bank of India
Alok Kumar Misra (CMD)
28,480.67
2,677.52
NA
Credit cards, consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, wealth management Commercial Banking Retail Banking Private Banking Asset Management Mortgages Credit Cards
SBI Canara Bank Bank of Baroda ICICI Bank
Vadodara (Baroda) And Mumbai
Canara Bank SBI PNB ICICI Bank Bank of Baroda
Mumbai
INSURANCE PLAYERS
LIC of India DK Mehrotra Chairman T S Vijayan Managing Director Ms Chanda Kochar Chairperson Life and Health Insurance Investment management Mutual fund Insurance products for individuals Saving and Wealth Creation Solutions Protection Solutions Retirement Solutions Child Plans Health Insurance Group Inurace Life Insurance Health Insurance Home Insurance Motor Insurance Life Insurance Pensions Mumbai
ICICI Prudential
Mumbai
Bajaj Allianz
Mr. Rahul Bajaj Chairman V Philip CEO
Pune
SBI Life Insurance
Mr. Mahadev Nagendra Rao
Mumbai
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3. ENGINEERING & MANUFACTURING SECTOR IN INDIA

The engineering & manufacturing sector in India can be broadly classified into: Chemicals, Petroleum, Chemicals & Fertilizers Capital Goods and Engineering Packaging Consumer non-Durables. Electronics, IT Hardware & peripherals. Gems & Jewellery. Leather & Leather Products. Mining. Steel & non-Ferrous Metals. Power Textiles & Apparels. Water Equipment. Strong world-wide distribution systems and use of IT etc. for collaborative design, as well as opening up of Trade Barriers has given a huge boost to this sector in terms of a global approach. Some of the factors that are helping India in this sector is the availability of 700,000 plus Engineers as well as cheap skilled labour. This has also helped in making India a global manufacturing base and some of these are as follows: LG, Nokia, Samsung have plants in India Toyotas Etios is manufactured in India and exported to South Africa etc. Skoda has a manufacturing plant in Aurangabad RIL in planning huge investments in Aerospace Hyundai and Suzuki have their manufacturing hub for smaller cars in India. However, there is a lot more to be done in terms of Labour productivity HR and IR issues Infrastructure and Power Ambiguous Tax Laws Regulatory hurdles Some of the sub sectors and the players in these are given below
Sub Sector Auto and Auto Components
Key Players Tata Motors, Maruti, M and M, Kalyani Group, Sona Group, Munjal Group BHEL, Tata Projects, Reliance Energy, L and T, Crompton Greaves, Thermax etc. L and T, Gammon, GVK,
Remarks Both Auto and Auto Components Power Generation as well as Equipment
Power
Airports
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4. FAST MOVING CONSUMER GOODS (FMCG)

Overview of FMCG Market in India : FMCG stands for Fast Moving Consumer Goods and India is a hub for FMCG companies. FMCG products normally include different varietie s of frequently purchased consumer products like detergents, shaving products, tooth cleaning products, cosmetics, soap, toiletries and other non-durable products like plastic goods, paper products, bulbs and glassware. FMCG goods might also include products like packaged drinks and food products, consumer electronics and pharmaceuticals even though these products are categorized separately. FMCG Sector in India is one of the four largest sectors in Indian economy. The FMCG (Fast Moving Consumer Goods) companies have faced tough competition among themselves over the years which is continuously increasing. This is due to the increase in per capita income among individuals and also various developments in rural economy. The FMCG sector has changed its strategies and has opted for a more well-planned marketing of the products to penetrate both the rural and urban markets. Marketing, retail, sales, services and supply are the key areas which generates maximum career scopes in FMCG Industry in India. The FMCG value chain is vast covering farmers who manufacture the primary products to the consumers who consume the ultimate finished goods. The FMCG Industry in India is the third largest Industry after Textiles and Petroleum. Its participant profile is extensive and includes food and related products such as tea, salt, tobacco, oils, fats and processed foods, personal care products such as soaps, detergents, hair oils, toiletries and dental products, frequently purchased essential or non-essential goods such as food, toiletries, soft drinks, disposable diapers. Consumers play a crucial role in the Indian FMCG sector as the price band of each FMCG product is fixed depending largely on the consumer class which the particular company is targeting. The Indian FMCG industry is estimated to be over Rs.160000 crores in size and accounts for nearly 2.2% of the GDP of the country. The industry has tripled in size over the last 10 years and has grown at approximately 17% CAGR in the la st 5 years, driven by robust economic growth, rising income levels, increasing urbanization and favorable demographic trends. These growth drivers are expected to continue to favorably impact the industry which is estimated to reach Rs.400000 crores by 2020 (Source: CII, FMCG Roadmap to 2020). According to a recent study by the consultancy firm Boston Consultancy Group, the Indian consumer market is poised to grow at a compounded annual growth rate of 15% between 2010 and 2020, faster than most other emerging markets.
53
Company
HUL
CEO / Chairman / MD Mr. Nitin Paranjape
22,118.64
(Mar 2012)
PAT (Rs. Cr.) 2011-12 2691-4
No. of Employees 16,000
Main Brands
Competitors
HQ
ITC
Mr. Y C Deveshwar
25091.1 (Mar 2012)
6162.37
26,000
Nestle
Mr. Antonio Helio Waszyk
7,490 (Dec 2011)
9,61.55 (Dec 2011)
6,000
Asian Paints
Mr. K B S Anand
9,139.39
(Mar 2012) 11,668 (Mar 2012)
958.39 (Mar 2012
4,700
GCMMF (Amul)
Mr. P C Bhatol
NA
735 and 15 million milk producers are members
Lifebuoy Brookebond Rin Surf Excel Annapurna Clear Close Up Pepsodent Aashirvad Sunfeast Bingo Yippi Fiama Di Wills Gold Flake Wills Maggi Nescafe Kit Kat Polo Munch Apex Tractor Royale Utsav Amul Milk Cheese Ice Creams Butter Chocolates Chyavanprash Hajmola Amla Glucose D Odomos Vatika Babool Meswak Bournvita Dairy Milk Eclairs Perk Oreo 5 Star Gems Halls Tiger Milk Bikis Nutrichoice Maska Chaska Little Hearts Pampers Whisper Gillette H &S Ariel Parachute Nihar Saffola Kaya Revive Mediker
Procter Gamble ITC Colgate Palmolive
and
Mumbai
HUL Britannia Procter Gamble
Kolkata and
Cadbury HUL
Gurgaon
Nerolac Jenson Nicholson HUL Cadbury Nestle ITC HUL Colgate Palmolive Marico
Mumbai &
Anand
Dabur
Dr. Anand Burman
3759.3 (Mar 2012)
463.2
5650 (includes employees in overseas markets)
Ghaziabad
Cadbury (taken over by Kraft Foods)
Mr. Anand Kripalu
2800 (approx.)
NA
2000
Nestle ITC
Mumbai
Britannia
Ms. Vinita Bali
4964.1 (Mar 2012)
186.7
1987
ITC Cadbury
Bangalore
Procter and Gamble Gillette India Limited Marico
Mr. R A Shah
1001.2 + 1057.7 = 2058.9 (Jun 2011) 4008
150.9 + 86.15 = 237.1 (Jun 2011) 317
370 (Direct Employees and 26500 indirect employees) NA
HUL Colgate Palmolive
Mumbai
Mr. Harsh Mariwala
HUL Dabur Procter Gamble
Mumbai and
54
5. IT / ITES SECTOR
When it comes to the Indian information technology and IT-enabled services sector, numbers speak volumes, literally- $101 billion in revenues (Rs 5.6 lakh crore) about 5,000 companies, 28 lakh employees, and 7.5% contribution to the countrys gross domestic product (GDP). Growth has been spectacular for about a decade and this March marked the $100-billion milestone. But growth has been wavering, starting with 2008 when major economies in the West went into crisis from which they are yet to emerge. The collapse of the housing market and ensuing financial meltdown in the US economy put at risk, nearly 60% of sectors export revenues of $70 billion. The still-unraveling sovereign debt crisis in the euro zone clouds demand outlook, jeopardizing another 25% revenues for the sector. Th e sector needs to change, and now. What got the industry to the $100 billion milestone may not take it to the next. Simple labor arbitrage and abundance of skilled technical talent may not continue to be of great help for an industry that made abundant use of government tax props, given as a little push for a once-sunrise sector.
For IT firms, now is the moment of truth but for IT-enabled services or business process outsourcing (BPO) firms, it came a few years ago. The lowest hanging fruit for Indian business process outsourcing companies was call centers and customer care operations for corporations in US and the UK, because an Indian call centre executive could be hired at a fraction of the cost of an American or British executive. It became evident soon enough that India had no irreplaceable core-competency and if price was a barrier to entry, then it was a rather weak one. That message was driven home when BPOs started facing profit squeeze and voice-based jobs started moving to other lower-cost English speaking countries such as Sri Lanka, South Africa, Philippines or Eastern Europe. And both IT and BPO can no more expect to use the tax props to support their growth as the government has decided that the industry is mature and does not need handouts. Some BPOs saw the writing on the wall and moved up the value chain to supporting and enabling business transactions and specializing in other areas of non-core business operations. That journey is still on. On the IT services side, multinational competitors have caught up on the labor arbitrage front by rapidly expanding here. Add to that the fast rising wages in India and Indian IT is facing a scenario where it needs to prove to clients that they can offer something more than mere cost arbitrage. That journey has begun and is playing out. The good news is, there is still a long road ahead and no dearth of opportunities for firms that are willing to innovate and adapt. But to capture that growth, firms need to evolve, like they evolved during the two inflection points in the evolutionary path of the three-decade-old industry - Y2K and Dot-Com burst. The 2008 financial crisis marked the beginning of the third inflection point. Earlier, clients were happy with ITBPO firms helping them run the business, with obvious off shoring-related cost benefits. But now, clients want vendors to not only help reduce costs but increase sales. As corporations look to transform their businesses, they want help from their technology and BPO partners in that process.
55
Comp any
CEO / Chairman / MD N Chandrasekaran CEO / MD
Net Sales (Rs. Cr,) 2011-12 38,858.54
PAT (Rs. Cr.) 2011-12 10,975.98
No. of Employ ees 243,545
Main Products/Services
Competitors
HQ
TCS
IT, business consulting and outsourcing services
Wipro Infosys HCL Tech Mahindra Mahindra Satyam TCS Infosys HCL Tech Mahindra Mahindra Satyam
Mumbai
Wipro
Azim Premzi Chairman
31,682.90
8,470.00
135,920
IT, business consulting and outsourcing services Other Divisions: Wipro Consumer Care & Lighting Wipro Infrastructure Engineering Wipro GE Medical Systems Limited Wipro Technology Services Limited IT, Business Consulting and Outsourcing Services
Bangalor e
Cogni zant Techn ology Soluti ons Tech Mahin dra
John E Klein
4.6 Billion USD approx..
0.8 B USD approx
1,40,50 0
TCS
Chairman Franciso Dsouza CEO Vineet Nayyar CEO and MD
Wipro Infosys HCL TCS Infosys HCL Wipro Infosys
New Jersey, USA Chennai India
5,243.00
460.6
42,746
IT and outsourcing services
Pune
Mahin dra Satya m
Vineet Nayyar (Chai rman)

CP Gurnani (CEO)
4,780.80
-127.6
33,353
Hyderab ad
TCS Wipro
HCL Tech
Shiv Nadar (Chairman & CSO)

Vineet Nayar (VC & CEO) Friedrich Froeschl (Chairman) Ganesh Ayyar, CEO
16.03
1,646 Cr
84,319
HCL Infosys Wipro TCS
Noida
Mphas is (A unit of Hewle tt Packa rd)
3,404.13
782.01
38,798
Information Technology Services
TCS Infosys Wipro HCL
Bangalor e
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6. RETAIL INDUSTRY IN INDIA

Retailing in India is one of the pillars of its economy and accounts for 14 to 15 percent of its GDP . The Indian retail market is estimated to be US$ 450 billion and one of the top five retail markets in the world by economic value. India is one of the fastest growing retail markets in the world, with 1.2 billion people. Indias retailing industry is essentially owner manned small shops. In 2010, larger format convenience stores and supermarkets accounted for about 4 percent of the industry, and these were present only in large urban centers. Indias retail and logistics industry employs about 40 million Indians (3.3% of Indian population). Until 2011, Indian central government denied foreign direct investment (FDI) in multi-brand retail, forbidding foreign groups from any ownership in supermarkets, convenience stores or any retail outlets. Even single-brand retail was limited to 51% ownership and a bureaucratic process. In November 2011, Indias central government announced retail reforms for both multi-brand stores and single-brand stores. These market reforms paved the way for retail innovation and competition with multi-brand retailers such as Wal-Mart, Carrefour and Tesco, as well single brand majors such as IKEA, Nike, and Apple. The announcement sparked intense activism, both in opposition and in support of the reforms. In December 2011, under pressure from the opposition, Indian government placed the retail reforms on hold till it reaches a consensus. In January 2012, India approved reforms for single-brand stores welcoming anyone in the world to innovate in Indian retail market with 100% ownership, but imposed the requirement that the single brand retailer source 30 percent of its goods from India. Indian government continues the hold on retail reforms for multi-brand stores. In June 2012, IKEA announced it has applied for permission to invest $1.9 billion in India and set up 25 retail stores. Fitch believes tha t the 30 percent requirement is likely to significantly delay if not prevent most single brand majors from Europe, USA and Japan from opening stores and creating associated jobs in India. Growth over 1997-2010 India in 1997 allowed foreign direct investment (FDI) in cash and carry wholesale. Then, it required government approval. The approval requirement was relaxed, and automatic permission was granted in 2006. From 2000 to 2010, Indian retail attracted about $1.8 billion in foreign direct investment, representing a very small 1.5% of total investment flow into India. Single brand retailing attracted 94 proposals between 2006 and 2010, of which 57 were approved and implemented. For a country of 1.2 billion people, this is a very small number. Some claim one of the primary restraints inhibiting better participation was that India required single brand retailers to limit their ownership in Indian outlets to 51%. China in contrast allows 100% ownership by foreign companies in both single brand and multi-brand retail presence. Indian retail has experienced limited growth, and its spoilage of food harvest is amongst the highest in the world, because of very limited integrated cold-chain and other infrastructure. India has only 5386 stand-alone cold storages, having a total capacity of 23.6 million metric tons. However, 80 percent of this storage is used only for potatoes. The remaining infrastructure
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capacity is less than 1% of the annual farm output of India and grossly inadequate during peak harvest seasons. This leads to about 30% losses in certain perishable agricultural output in India, on average, every year . Indian laws already allow foreign direct investment in cold-chain infrastructure to the extent of 100 percent. There has been no interest in foreign direct investment in cold storage infrastructure build out. Experts claim that cold storage infrastructure will become economically viable only when there is strong and contractually binding demand from organized retail. The risk of cold storing perishable food, without an assured way to move and sell it, puts the economic viability of expensive cold storage in doubt. In the absence of organized retail competition and with a ban on foreign direct investment in multi-brand retailers, foreign direct investments are unlikely to begin in cold storage and farm logistics infrastructure. Until 2010, intermediaries and middlemen in India have dominated the value chain. Due to a number of intermediaries involved in the traditional Indian retail chain, norms are flouted and pricing lacks transparency. Small Indian farmers realize only 1/3rd of the total price paid by the final Indian consumer, as against 2/3rd by farmers in nations with a higher share of organized retail. The 60%+ margins for middlemen and traditional retail shops have limited growth and prevented innovation in Indian retail industry. A 2007 report noted that an increasing number of people in India are turning to the services sector for employment due to the relative low compensation offered by the traditional agriculture and manufacturing sectors. The organized retail market is growing at 35 percent annually while growth of unorganized retail sector is pegged at 6 percent. The Retail Business in India is currently at the point of inflection. As of 2008, rapid change with investments to the tune of US $ 25 billion was being planned by several Indian and multinational companies in the next 5 years. It is a huge industry in terms of size and according to India Brand Equity Foundation (IBEF), it is valued at about US$ 395.96 billion. Organized retail is expected to garner about 16-18 percent of the total retail market (US $ 65-75 billion) in the next 5 years.
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Company
CEO / Chairman / MD
PAT (Rs. Cr.) 201112 78.75
No. of Employ ees
Main Products/Service s
Competitors
HQ
Pantaloon Retail
Kishore Biyani MD and CED
4,325.41
14000
Shoppers Stop
Govind S. Shrikhande , (MD & CEO) Vineet Kapila President
2,034.76
64.26
14000
Discount Stores Super Stores Big Bazaar Food Bazaar Depot Brand Factory Discount Stores Super Stores Crossword Stop Convenience Stores Hypermarkets Food and Grocery Fresh fruits, vegetables & exotic range Specialty and international foods Personal Care, cosmetics and fragrances Home and office essentials Electrical and Electronics Garments and fashion accessories for men, women and children Food-court / caf
Shoppers Stop Trent Lifestyle Spencers West Side Pantaloon Retail Trent Lifestyle Spencers West Side
Mumbai
Mumbai
Spencers Retail
NA
NA
60000
Shoppers Stop Trent West Side
Kolkata
Reliance Retail
Mukesh Ambani Chairman and MD NA
NA
NA
23166
Reliance Fresh Reliance Digital Reliance Trends Reliance Jewels
Pantaloon Retail Trent Lifestyle Spencers West Side Pantaloon Retail Trent Lifestyle Spencers West Side
Mumbai
Lifestyle Stores
NA
NA Clothing Footwear Fashion Accessories Children Wear Home Centre
Dubai based Landmark Group
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OTHER RETAILERS IN INDIA

REI AGRO LTD Retail: 6TEN and 6TEN kirana stores Raymond Ltd.: Textiles, The Raymond Shop, Park Avenue, Park Avenue Woman, Parx, Colourplus, Neck Ties & More, Shirts & More etc. Fabindia: Textiles, Home furnishings, handloom apparel, jewellery The Tata Group-Formats: Westside, Star India Bazaar, Steeljunction, Landmark, Titan Industries with World of Titans showrooms, Tanishq outlets, Croma. Nilgiris-Formats: Nilgiris supermarket chain Marks & Spencer: Clothing, lifestyle products, etc.
Shri Kannan Departmental Store (P) Ltd: Groceries, Clothing, Cosmetics [Western Tamilnadus Leading Retailer] Pyramid Retail-Formats: Pyramid Megastore, TruMart Next retail India Ltd (Consumer Electronics) (www.next.co.in) Vivek Limited Retail Formats: Viveks, Jainsons, Viveks Service Centre, Viveks Safe Deposit Lockers PGC Retail -T-Mart India, Switcher, Respect India, Grand India Bazaar,etc., Subhiksha-Formats: Subhiksha supermarket pharmacy and telecom discount chain. Trinethra- Formats: Fabmall supermarket chain and Fabcity hypermarket chain Vishal Retail Group-Formats: Vishal Mega Mart BPCL-Formats: In & Out German Metro Cash & Carry Shoprite Holdings-Formats: Shoprite Hyper Aditya Birla Group - More Outlets Kapas- Cotton garment outlets Nmart Retails with 153 operating Stores till now and total 219 Stores in India and 1 to open in Dubai Shortly. (Expected to be 500 by the end of Aug-2012) (www.nmart.co.in) Gitanjali- Nakshatra, Gili, Asmi, Ddamas, Gitanjali Jewels, Giantti, Gitanjali Gifts, etc.
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7. TELECOM INDUSTRY IN INDIA

Indias telecommunication network is the second largest in the world on the basis of its customer base and it has one of the lowest tariffs in the world enabled by the hyper-competition in its market. Major sectors of the Indian telecommunication industry are telephony, internet and broadcasting. Telephonic network in the country which is in an ongoing process of converging to Next Generation Network or NGN, employs an extensive system of network elements such as digital telephone exchanges, Mobile Switching Centers, Media gateways and Signaling gateways at the core, interconnected by a wide variety of transmission systems using media such as Optical fiber or Microwave radio relay. The access network which connects the subscriber to the core is highly diversified with different copper-pair, optic-fi bre and wireless technologies. DTH, a relatively new broadcasting technology has attained significant popularity in the Television segment. Introduction to private FM has given a fillip to the radio broadcasting in India. Telecommunication in India is assisted by the INSAT system of the country, one of the largest domestic satellite systems in the world. India possesses a diversified communications system that link all parts of the country by telephone, Internet, radio, television and satellite.
Indian telecom industry underwent a high pace of market liberalization and growth since 1990s and now has become the worlds most competitive and one of the fastest growing telecom markets. India has the worlds second-largest mobile phone user base with over 929.37 million users as of May 2012.It has the worlds thir d-largest Internet user-base with over 121 million as of December 2011. The industry is expected to reach a size of 344,921 crore by 2012 at a growth rate of over 26 per cent, and generate employment opportunities for about 10 million people during the same period. According to analysts, the sector would create direct employment for 2.8 million people and for 7 million indirectly. The total revenue of the Indian telecom sector grew by 7% to 283,207 crore for 201011 financial year, while revenues from telecom equipment segment stood at 117,039 crore Telecommunication has supported the socioeconomic development of India and has played a significant role to narrow down the rural-urban digital divide to some extent. It also has helped to increase the transparency of governance with the introduction of E-governance in India. Government has significantly used the popularity of radio and television among rural people for many mass education programs. However, there are clouds as well recent spectrum pricing of about 14,000 Cr per 5 MHz of spectrum, has largely been viewed as untenable by most operators. Add to this is the 2 G Scam and cancellation of licenses of Etisalat DB, Telenor (Uninor) and even existing operators like Idea. Foreign investor confidence has been eroded by these events as well as the adverse tax ruling against Vodafone. New trends that need close watching are MNP and the advent of 4G and LTE technologies.
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Company
CEO / Chairman / MD
PAT (Rs. Cr.) 2011-12
No. of Employees
Main Products/Services
Competitors
HQ
Bharati Airtel 220 million subscribers
Sunil Bharti Mittal Chairman and MD Kumar Mangalam Birla Chairman
38,015.80
7,716.90
20605
Fixedline Telephony Mobile Telephony Broadband Internet Digital Television IT services Mobile telephony, Wireless broadband
Idea Cellular 100 million subscribers
19,275.32
576.54
6481
Reliance Communications (NA) Tata Communications
Anil Ambani President Vinod Kumar CEO and MD A K Garg Chairman and CEO
19,275.32
-757.99
28065
Telecommunications
4,091.77
171.34
7700
Telecommunications
Idea Cellular Vodafone Tata Docomo Reliance Infocomm BSNL Airtel Vodafone Tata Docomo Reliance Infocomm BSNL Airtel Vodafone Tata Docomo BSNL Airtel Vodafone Reliance Infocomm BSNL
New Delhi
Mumbai
Mumbai
Mumbai
3,675.51
-2,801.92
45000
MTNL 5.6 million users Tata Teleservices (NA)
Ratan Tata Chairman Srinath Narsimhan MD and CEO RK Upadhyay Chairman and MD Vittorio Colao (CEO)
2,255.61
49.90
NA
Fixed-line and mobile telephony, broadband and fixed-line internet services, digital television Fixed-line and mobile telephony, broadband and fixed-line internet services, digital television and network services Fixed line and mobile telephony, Internet services, digital television, IPTV Fixed line and mobile telephony, Internet services, digital television
New Delhi
Airtel Vodafone Reliance Infocomm Idea Cellular
Mumbai
BSNL (Unlisted Company) 97.7 million users Vodafone 142 Million subscribers
32025 (2009-10)
NA
281635
NA
NA
86,373 (worldwide)
Martin Peters (CEO VEL)
Bharti Airtel Idea Cellular Reliance Infocomm Vodafone Bharti Airtel Idea Cellular BSNL Reliance Infocomm
New Delhi
London
Note: The other competitors are Uninor and Aircel Tata Docomo and Reliance Infocomm Subscriber Database not submitted to Cellular Operators Authority of India (COAI)
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Major global CoMpanies
1. AMAZON.COM
Headquartered in Seattle, USA, Amazon is one of the pioneers and the largest on line retailer in the world. Jeff Bezos incorporated the company as Cadabra in 1994 and it went online as Amazon in 1995. It started as an online book store, but soon diversified into DVDs, Apparels, Electronics, Video games etc. It took about 5 years for the company to be profitable. Amazon has also gone on a very aggressive acquisition spree from 1998 acquiring companies like Zappos (shoe retailing) and Book Surge (Print on Demand).
The company now has a turnover of 48 Billion USD (2011) and a Net income of 630 Million USD
2. APPLE
Apple, Inc. designs, manufactures and markets personal computers and related personal computing and mobile communication devices. It is engaged in designing Macs laptops, along with OS X, iLife, iWork and professional software. Apple provides the digital music revolution with its iPods and iTunes online store. Apple reinvented the mobile phone with its revolutionary iPhone and App Store and has recently introduced its magical iPad which is defining the future of mobile media and computing devices. The company operates through the Americas, Europe, Japan, Asia-Pacific and Retail segments. The company was founded by Steven Paul Jobs, Steve Wozniak and Ronald Gerald Wayne in 1976 and is headquartered in Cupertino, CA. To say it was another big year for Apple would be a gross understatement. With the passing of Steve Jobs, questions swirled around the companys future. But under new CEO Tim Cooks guidance, Apple continues to prosper. The companys annual revenues climbed to $108 billion, led by an 81% increase in iPhone sales a jump that doesnt factor in the runaway success of the iPhone 4S and a 334% spike in iPad sales, due in no small part to the revamped iPad 2. Increased sales across the board explain why shares soared 75% during the companys fiscal year to $495 and are being traded at 620.91 as of Aug 07 2012. Apple ranks 55 th in Fortune 500 lists Global 500 companies.
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3. BOSTON CONSULTING GROUP

A Strategy and Management Consulting firm, Boston Consultancy Group has over 70 offices across the globe. The company has wide expertise in industries like Healthcare, Energy, Insurance, Public Sector, Financial Services etc. and in areas like Marketing, Strategy, Post Merger acquisition, sustainability, Risk Management, Transformation etc. They are closely involved with the current market challenges in Europe as well. In 2012 it was ranked by Fortune as the 2nd best company to work for . The company was formed by Bruce D. Henderson, a Harvard Business School alumnus and the current CEO is Hans Paul Burkner . They are approximately 3.55 Billion USD in Turnover and employ over 5,600 consultants. In 1968 they coined the BCG matrix which helped large corporations in categorizing their various products and allocating funds through it. They were classified as Cash Cow, Dog etc. Their main competitors will be other consulting giants like McKinsey, Booz, Bain etc.
4. COCA COLA
Coca Cola is a carbonated drink sold the world over in 200 countries plus. The company is based in Atlanta, Georgia in the US and its brand Coke has been around since 1886. It has subsequently launched other brands and variants like Caffeine free Coca Cola, Coca Cola cherry etc. Interbrand rated Coke as the most valuable brand in the world in 2011. Coca Cola spends huge amounts in advertising and branding and this has apparently affected daily lives in US and other countries. The red clad image of and old Santa Claus is one such image credited to Coke! There has been some negative publicity on account of health reasons and the use of child labour and excessive marketing muscle. In 2011, Coca Cola had a turnover of 46 Billion USD. It is a Fortune 500 company.
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5. DELOITTE
Deloitte, Touche and Tohamatsu are commonly known as Deloitte, which is one of the Big Four Consultancy Firms in the world. Deloitte was formed way back in 1845. Deloitte offers the following services Audit and Risk Consulting Business Consulting Financial Advisory or Tax Based in UK and New York, this is actually a collaborative model in which thousands of independent professionals, working under independent countries collaborate to provide services to the clients, despite being individual legal entities in themselves. Each of these firms operates in a distinct geographical area. A lot of Arthur Andersons operations in UK and Europe have merged with Deloitte. Deloitte is present in India and operates in 13 cities, offering most of their global service offerings. Deloitte has made some interesting predictions for India this year with respect to radio advertisement growing at 20%, Cloud technology growing rapidly and a $100 smart phone to go Mass Market. Current Chairman is Stephen Almond and the turnover for 2011 was 28.8 Billion USD.
6. GOLDMAN SACHS
Goldman Sachs is an American Invest Banking firm. Goldman Sachs provides a wide range of financial services to Corporations, Financial Institutions, Governments and high Net worth individuals. The company is over 150 years old, having been founded in 1869 by Marcus Goldman and Samuel Sachs. Goldman Sachs ran into controversy in the US Sub Prime crisis of 2007 and was able to profit from subprime mortgages. On September 21, 2008, Goldman Sachs and Morgan Stanley, the last two major investment bank s in the United States, both confirmed that they would become traditional bank holding companies bringing an end to an era of investment banking companies in Wall Street. There were other controversies too, with respect to insider trading, California Bonds etc. Lloyd Blankfein is the Chairman and CEO. The annual turnover of the company was 28.81 Billion USD in 2011 with net profits of over 4 Billion USD.
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7. GOOGLE
Larry Page and Sergey Brin who met in Stanford in 1995, founded this company. By 1996 they had made their first search engine BackRub. In 1998 Google was incorporated. It is head quartered in Mountain View California. The mission of Google is to organize the worlds information and make it accessible and useful. Essentially Google builds products that make your Web experience better. Three of their well-known products are G Mail, Android and Google Chrome. Google has over 54,000 employees, a lot of who are involved in Product Development. Larry Page is their CEO, while Eric. E. Schmidt is their Executive Chairman. In India Google has a presence in Hyderabad, Bangalore and Mumbai, with over 2,000 employees. For the year ending 2011 Google had a turnover of approximately 38 Billion USD and Net Income after Taxes of 9.7 B USD. In May 2012, Google acquired Motorolas Mobility Holdings. Fortune magazine has ranked Google the number 1 place to work in 2007, 2008, 2012. It is characterized by an informal work culture.
8. INTEL
If we look at various devices like Lap Tops, Desk Tops, Hand held, even Smart TV and Smart Phones etc., more often than not the underlying technology provider is Intel. Intel makes processors, mother Boards, Chip sets, Internet products etc. Founded in 1968, Intel built its first Microprocessor in 1971. Some of their well-known products are Itanium, Xeon E7 family, Intel Desktop Extreme Series etc. Paul S. Otellini is president and chief executive officer of Intel Corporation. He became the companys fifth CEO on May 18, 2005, succeeding Craig R. Barrett. The current employee strength is over 100,000 employees. The current mission of Intel is clear This decade we will create and extend computing technology to connect and enrich the lives of every person on earth. Intel clocked revenue of 54 Billion USD in 2011 with a net income of 12.9 Billion USD. Recent acquisitions and expansions of Intel include McAfee in the area of Computer Security, and Infineon Technologies for Wireless Solutions.
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9. IBM
International Business Machines Corporation, or IBM, is an American multinational technology and consulting corporation headquartered in Armonk, New York, United States. IBM manufactures and sells computer hardware and software, and it offers infrastructure, hosting and consulting services in areas ranging from mainframe computers to nanotechnology.[3] The company was founded in 1911 as the Computing Tabulating Recording Company through a merger of three companies: the Tabulating Machine Company, the International T ime Recording Company, and the Computing Scale Company. Fast forward a century later, the company celebrated its 100th anniversary with record annual profit of $15.9 billion, a 7% year-over-year increase. Much of that came from healthy revenue growth in BRIC countries Brazil, Russia, India, and China business analytics, cloud services, and Smarter Planet, IBMs ongoing campaign to solve re al-world problems, from traffic congestion to water management. In 2012, Fortune ranked IBM the #2 largest U.S. firm in terms of number of employees (433,362., the #4 largest in terms of market capitalization, the #9 most profitable, and the #19 largest firm in terms of revenue. The company has undergone several organizational changes since its inception, acquiring companies like SPSS (2009) and PwC consulting (2002), spinning off companies like Lexmark (1991), and selling off product lines like ThinkPad to Lenovo (2005). Sam Palmisano stepped down as chief executive officer on January 1, 2012, but retained his position as chairman. He was replaced by veteran IBMer Virginia M. Rometty
10. MICROSOFT
Microsoft is arguably the worlds largest software product company with a complete domination in the operating systems market for smaller systems. Microsoft was founded in 1975 by Bill Gates and Paul Allen. They are head quartered in Redmond near Seattle in the US. Well known products of Microsoft include MSDOS and MS windows as well as the Microsoft Office product suite. Microsofts IPO in 1986 created 3 Billionaires and 12,000 Millionaires! Microsoft is now active in areas like internet search (Bing), Video Entertainment (X Bos). It has also gone into hardware for the first time launching the Microsoft office tablet computer. Since the 1990S Microsoft has had to face and lose some litigation accusing it of monopolistic practices. Both the US department of Justice as well as the European Commission have rulings against it. Notwithstanding these, today Microsoft is a 74 Billion USD company with net profits of close to 17 Billion USD and 90,000 employees. Microsoft has a significant presence in India with approximately 6,000 employees. A large number of engineers from India are also employed at Microsoft offices globally.
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11. PROCTOR AND GAMBLE

Proctor and Gamble is an American Multi National Consumer goods company based out of Cincinnati. Its product lines include food, beverages, personal care and cleaning agents. In 2011, it recorded sales of 82 Billion USD. It also figures on Fortunes most admired companies. W illiam Proctor and James Gamble founded this company in 1837 and Mr Bob McDonald is currently Chairman, President and CEO.
26 of P and G brands have sales upwards of 1 Billion USD. Some of these are Ariel, Gillette etc. P and G has significant operations in India. Established in 1964 (as Richardson Hindustan) it now serves over 650 Million customers in India, itself. It has 5 plants and 9 contract manufacturing sites, thereby creating close to 28,000 jobs in India. A.G. Lafley was the CEO of P and G till 2010 and is credited with the Customer is Boss slogan.
12. STARBUCKS
Starbucks is an international coffee chain based in Seattle Washington, US. It is the largest coffee house company in the world with over 20,000 stores in 59 countries the largest population being in US, Canada and Japan. Starbucks was started by three partners - English teacher Jerry Baldwin, history teacher Zev Siegl, and writer Gordon Bowker. The three were inspired by entrepreneur Alfred Peet (whom they knew personally) to sell high-quality coffee beans and equipment. Today, the company does over 11.5 Billion USD in revenue with a net income of 1.2 Billion USD. The CEO of the company is Howard Schultz. The product line includes whole bean coffee, boxed tea, made to order beverages, bottled beverages and baked food. Through Hear Music the company also markets DVDs, Books, Music etc.
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13. WAL-MART
Walmart serves customers and members more than 200 million times per week at 10,130 retail units. Walmart operates under 69 different banners in 27 countries. With fiscal year 2012 sales of approximately $444 billion, Walmart employs 2.2 million associates worldwide. For the fiscal year ended January 2012, Walmart increased net sales by 5.9% to $443.9 billion and returned $11.3 billion to shareholders through dividends and share repurchases. Walmart ranked first on the 2011 FORTUNE 500 list of the worlds largest
companies by revenue. Walmart was founded in 1962, with the opening of the first Walmart discount store in Rogers, Ark. The company incorporated as Wal-Mart Stores, Inc., on Oct. 31, 1969 with its corporate office being at Bentonville, Arkansas,. The company grew to 276 stores in 11 states by the end of the decade. Wal-Marts international business continues to be a source of growth for the company revenues outside the U.S. rose by 13.1% last year, to $35.5 billion. Beyond sales, the chain struggled with a shaky public image. In June 2011, the U.S. Supreme Court threw out a discrimination lawsuit accusing the retailer of favoring men over women in promotions and pay. While executives may have breathed a sigh of relief, Wal-Mart suffered another blow when U.S. lawmakers launched an investigation in April 2012 following allegations of bribery at the chains Mexican affiliate.
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bUsiness leaders
1. ADI GODREJ
Chairman & Managing Director, Godrej Group Adi Godrej left India at the age of 17 to enroll at the Massachusetts Institute of Technology. Though he planned to study mechanical engineering, he later on switched to management. After his return to India, Adi Godrej joined the family business. After India's economy was opened up, Godrej restructured the company's policies to meet the challenges of globalisation. An industrialist and a philanthropist, Godrej modernized and systematized management structures and implemented process improvements.
In the early 2000s, the Group completed a 10-year restructuring process through which each business became a stand-alone company with a CEO/COO from outside the Godrej family. Godrej, a major supporter of the World Wildlife Fund in India, has developed a green business campus in the Vikhroli township of Mumbai, which includes a 150-acre mangrove forest and a school for the children of company employees.
2. ADITYA PURI
MD, HDFC Bank Puri has been the managing director of the bank since September 1994. He has about 36 years of banking experience in India and abroad. Prior to joining HDFC Bank, Puri was the CEO of Citibank, Malaysia from 1992 to 1994. Mr . Aditya Puri holds a Bachelors degree in Commerce from Punjab University and is an associate member of the Institute of Chartered Accountants of India. The numerous awards won by Mr. Puri and the Bank are a testimony to the tremendous credibility that he has built for himself and the Bank over the years. Mr. Puri has led one of the biggest mergers of the Indian banking industry in recent times with the merger of Centurion Bank of Punjab with HDFC Bank. The subsequent integration has been smooth and seamless under his inspired leadership. Puri in an interview once said, he always finds time for golf and family. He spends just an hour each day on planning and the rest of the time in bugging people to do their jobs.
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3. ANAND MAHINDRA
Vice chairman & MD, Mahindra & Mahindra Ltd In the summer of 1991, he was appointed deputy managing director of Mahindra & Mahindra Ltd. In April 1997, he was appointed managing director and in January 2003 given the additional responsibility of vice chairman. Anand graduated from Harvard College, Cambridge, Massachusetts, and Magna cum Laude with High Honors. He completed his MBA from Harvard Business School, Boston, Massachusetts in 1981. Mahindra was a co-promoter of Kotak Mahindra Finance, which in 2003 was converted into a bank.
Mahindra is the co-founder of the Harvard Business School Association of India. In 2009, Tech Mahindra, successfully acquired Satyam Computer. Mr. Mahindra was given the 'Knight of the Order of Merit' by the President of the French Republic, the Rajiv Gandhi Award for outstanding contribution in the business field in the year 2004, Leadership Award from the American India Foundation in 2005, Person of the Year from Auto Monitor in 2005, the CNBC Asia Business Leader Award for the year 2006 and also the Most Inspiring Corporate Leader of the Year 2007 from NDTV Profit group.
4. ANIL DHIRUBHAI AMBANI

Chairman, Reliance Anil Dhirubhai Ambani Group Ambani joined Reliance in 1983 as co-chief executive officer and is credited with having pioneered many financial innovations in the Indian capital markets. One of his major achievements in the entertainment industry is the takeover of Adlabs, the movie production to distribution to multiplex company that owns India's only dome theatre and the joint venture worth $825 million with Steven Spielberg. Born on June 4, 1959, Anil Ambani did his Bachelors in Science from the University of Bombay and Masters in Business Administration from The Wharton School at the University of Pennsylvania. After the split in Reliance Group, Anil Ambani founded Anil Dhirubhai Ambani Group. He is the Chairman of all listed Group companies, which include: Reliance Communications, Reliance Capital, Reliance Energy and Reliance Natural Resources Limited. Anil Ambai was elected as an independent member Rajya Sabha MP in June 2004. But he resigned voluntarily on March 25, 2006. Anil Ambani has won several awards and honors. Major among these include: 'CEO of the Year 2004' in the Platts Global Energy Awards, 'The Entrepreneur of the Decade Award' by the Bombay Management Association, and 'Businessman of the Year Award' by leading Business Magazine, Business India in 1997.
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5. AZIM HASHIM PREMJI

Chairman, Wipro Limited At the age of 21 he took over the family business Western India Vegetable Product Company when his father, M H Premji, suddenly passed away in 1966. The Western India Vegetable Product later became Wipro Products Ltd, Wipro Technologies and Wipro Corporation. Under Premjis leadership Wipro embarked on an ambitious phase of expansion and diversification. The Company began manufacturing light bulbs with General Electric and other consumer products including soaps, baby care products, shampoos, powder etc.
In the 1980s Wipro entered the IT field, taking advantage of the expulsion of IBM from the Indian market in 1975. Premji is known for his modesty and frugality in spite of his wealth. He drives a Toyota Corolla, flies economy class & prefers to stay in company guest houses. Premji has been recognised by Business Week as one of the greatest entrepreneurs globally. In 2009, he was awarded an honorary doctorate from Wesleyan University in Middletown, Connecticut, for his outstanding philanthropic work.
7. BRIJMOHAN LALL MUNJAL

Chairman, Hero Group In 1944, when he was 20, Munjal along with elder brothers Dayanand, Satyanand and younger brother Om Prakash came from Kamalia (now in Pakistan) and settled in Amritsar. The brothers initially started a business by supplying components to manufacturers of bicycles in and around Amritsar. After the partition in 1947 the Munjal family completely shifted their base from Pakistan to Ludhiana. Slowly they expanded their distribution network and by early 1950s they were supplying components of bicycles throughout India. In 1954, Hero Cycles Ltd moved up the value chain by making a shift from supplying to manufacturing. In 1984, the Hero Group started a joint venture with Japans Honda Group, to manufacture motorbikes.
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6. BILL GATES
R
William Henry Gates, an American businessman and chairman of Microsoft, was born in 1955, on 28 October in Seattle, Washington.. In 1973, he completed his graduation from Lakeside school and sat for the SAT in which he scored 1590 out of 1600. In 1975, Bill Gates launched Microsoft and within the next few years, it changed the entire computer world. Bill Gates spent the subsequent years developing newer versions of Operating System, Windows 2.0 and Windows 3.0. By the end of 1994 Microsoft sold over 10 million OS copies across the world. It encouraged Microsoft for developing Windows 3.1, Windows 95, 98, 2000, Windows XP and current version of Vista and Windows 7. Microsoft has successfully expanded its centers in 85 countries across the world and employs over 55000 employees. According to Forbes 2012, Bill Gates is the worlds second richest entrepreneur with the net worth of $61 billion. In 2000, Bill gates, along with his wife Melinda Gates, established Bill and Melinda Gates Foundation which is one of the largest charitable foundations in the world. In 2007, he was ranked as the second most active and generous philanthropist by contributing $28 billion to the charity By the age of 31, Bill Gates became the youngest billionaire ever in American history In 1994, Bill Gates was awarded with CEO of The Year by Chief Executive Officer Magazine. In 1999, Bill gates was in the power list of Sunday Times. Information technology and business are becoming inextricably interwoven. I dont think anybody can talk meaningfully about one without talking about the other. Its fine to celebrate success but it is more important to heed the lessons of failure.
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8. CHANDA KOCHHAR
MD & CEO, ICICI Bank In May 2009, Chanda Kochhar took over the reins of the bank from K V Kamath. She began her career with ICICI as a Management Trainee in 1984 and has thereon successfully risen through the ranks by handling multidimensional assignments and heading all the major functions in the Bank at various points in time. Apart from being on the Board of ICICI Bank and various group companies, she is a member of the Prime Minister's Council on Trade & Industry, US-India CEO Forum, Executive Board of the Indian School of Business, Hyderabad, Member of the Board of Governors of Indian Council for Research on International Economic Relations (ICRIER), Member of the Managing Committee of the Indian Banks Association and also a member of the Council of Scientific and Industrial Research (CSIR) Society. Kochhar has also consistently figured in Fortune's list of 'Most Powerful Women in Business' since 2005. In 2009, she debuted at number 20 in the Forbes 'World's 100 Most Powerful Women list'. She is a recipient of the "Padma Bhushan", one of India's highest civilian honours.
9. HENRY FORD
Henry Ford, an American industrialist and founder of the Ford Motor Company, is best-known as both a folk hero as well as a technological genius. He is also called to be the father of the modern assembly line used in mass production whose Model T automobile modernized transportation in particular, and American industry in general. His businesses intellect permanently transformed the economic as well as as the social character of the United States. Within the five years of the inception of the Ford Motors, it produced 267,720 cars and employed 13,000 people. Within a decade; he had captured about 48 percent share of US car market with $100 million in annual sales. The man who will use his skill and constructive imagination to see how much he can give for a dollar, instead of how little he can give for a dollar, is bound to succeed. ~Henry Ford
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10. KIRAN MAZUMDAR-SHAW

Chairman & Managing Director, Biocon Ltd Kiran Mazumdar Shaw is the Chairman & Managing Director of Biocon Ltd, India's biggest biotechnology company. In 2004, she became India's richest woman Kiran Mazumdar Shaw was born on March 23, 1953 in Bangalore. She had her schooling at Bishop Cotton Girls School and Mount Carmel College at Bangalore. After completing her B.Sc. in Zoology from Bangalore University in 1973, she went to Ballarat University in Melbourne, Australia and qualified as a master brewer. She founded Biocon India with a capital of Rs 10,000 in 1978. The initial operation was to extract an enzyme from papaya.
Her application for loans was turned down by banks on two counts - biotechnology was then a new word and the company lacked assets. Over the years, the company grew under her leadership and is today the biggest biopharmaceutical firm in India. Kiran Mazumdar Shaw is the recipient of several prestigious awards. These include ET Businesswoman of the Year, Best Woman Entrepreneur, Model Employer, Ernst & Young's Entrepreneur of the Year Award for Life Sciences & Healthcare, Leading Exporter, Outstanding Citizen, Technology Pioneer, etc. Government of India also felicitated her with Padmashri (1989) and Padma Bhushan (2005).
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11. KUMAR MANGALAM BIRLA

Chairman, Aditya Birla Group Kumar Mangalam Birla is the Chairman of the Aditya Birla Group. The group is India's third largest business house. Born on June 14, 1967, Kumar Mangalam Birla spent the early part of his life in Calcutta and Mumbai. He is a Chartered Accountant and did his MBA (Masters in Business Administration) from the London Business School, London. Kumar Mangalam Birla took over as Chairman in 1995, at the age of 28, after sudden demise of his father, noted industrialist Aditya Birla, after whom the group is named. Under Kumar Mangalam Birla's leadership, the Aditya Birla Group, apart from consolidating its position in existing businesses, also ventured into sunrise sectors like cellular telephony, asset management, software and BPO. He served as the Chairman of Securities and Exchange Board of India's Committee on Corporate Governance, and as chairman of Sebi's Committee on Insider Trading. He has authored the nation's First Report on Corporate Governance. On the academic front, Birla is the Chancellor of BITS, Pilani, Hyderabad, Goa and Dubai. He is a director of the G D Birla Medical Research and Education foundation. Kumar Mangalam Birla has won several honors. Major among them include The Business Leader of the Year (2003) by The Economic Times, Business Man of the Year - 2003 by Business India, and The Ernst & Young Entrepreneur of the Year - India in 2005.
12. KUSHAL PAL SINGH

Chairman & CEO, DLF Ltd Gurgaon became a world-famous outsourcing destination in span of a decade because of K P Singh's world-class earthquake-proof office buildings, apartments, shopping malls and leisure facilities. In 2008 he became the world's richest real estate tycoon. In 1960, he joined American Universal Electric Company and soon after its merger with DLF Universal Limited in 1979, he took over as the Managing Director of this new company. DLF has an estimated land bank of 10,255 acres.
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13. LAKSHMI MITTAL
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Lakshmi Niwas Mittal, the chairman and chief executive officer of ArcelorMittal, was born in 1950, June 15 at a village Sadulpur which is situated in the Churu district of Rajasthan. In 1976, he established LNM Group (now Mittal Steel). Mittal Steel expanded successfully across 14 countries in the world. He is the member of the Advisory Board of the Kellogg School of Management in the U.S and working as Director of ICICI Bank Limited and a non-executive director of Goldman Sachs, EADS. According to Forbes Magazine 2005, he was the third richest man with $25 billion, in 2009, he was the eighth richest man with $19.3 billion and in 2010, he soared to the fifth richest man across the world with $28.7 billion fortune. Philanthropic work: in 2007, he raised 1 million on Apprentice, a celebrity special programme, for Comic Relief He established Mittal Champions Trust with US$9 million to help 10 potential athletes after experiencing Indians athletes considerably poor performance in Olympics. In 1996 he received Steelmaker of the Year from New Steel, in 1998, he received Willy Korf Steel Vision Award and in 2004, Fortune magazine honored him with European Businessman of the Year 2004 for his contribution in steel development and entrepreneurship skills. Always think outside the box and embrace opportunities that appear, wherever they might be. - Lakshmi Mittal Hard work certainly goes a long way. These days a lot of people work hard, so you have to make sure you work even harder and really dedicate yourself to what you are doing and setting out to achieve. Everyone experiences tough times, it is a measure of your determination and dedication how you deal with them and how you can come through them.
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14. LARRY PAGE

Larry Page, an American computer scientist and cofounder of Google Inc, was born in March 26, 1973 in East Lansing, Michigan to a Jewish family. In 1991 he graduated from East Lansing High School; and later attended the University of Michigan and completed Bachelor of Science degree in computer engineering with honors; and a Masters degree in Computer Science from Stanford University. In 1999, he enrolled at Stanford University for PhD in computer science and collaborated with Sergei Brin for the research on search engine algorithm. Together, in 1998, they founded Google.
On August 19 2004, Google became a public company, trading on the NASDAQ stock exchange as GOOG. In 2009, Page, along with Brin, was in fifth position of Forbes The Worlds Most Powerful Peoples list According to Forbes Magazine 2011, he was the worlds 24th richest person and 14th richest man in the United States. In addition, in the list of the worlds most powerful person, Forbes places on him on #30 position.
15. MICHAEL DELL

Michael Dell is an American entrepreneur and the founder of Dell and the longest-serving CEO in the personal computer industry. Dell was the very first computer company to use Just-In-Time manufacturing. As of 2012, Dell has offices across 34 countries with approximately 36,000 employees. Dell is best known for its stylish yet inexpensive desktops, laptops and hand-held computing devices that successfully meet the requirements of customers. He has been honored with various titles including Entrepreneur of the Year from Inc magazine, Top CEO in American Business by Worth Magazine, Man of the Year by PC Magazine, CEO of the Year by Financial World and Industry Week magazines from 1997-1999 and in 1992, he became the youngest CEO of Dell. Its through curiosity and looking at opportunities in new ways that weve always mapped our path at Dell. Theres always an opportunity to make a difference. Michael Dell
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16. MUKESH DHIRUBHAI AMBANI

Chairman, Reliance Industries As of July 2010, Mukesh Ambani was the richest man in Asia and the fourth richest man in the world with a personal wealth of $29.0 billion. Mukesh Ambani is the face of new emerging India. He is the Chairman and Managing Director of Reliance Industries Limited, India's largest private sector company. Mukesh Ambani was born on April 19, 1957 in Mumbai. His father Dhirubhai Ambani was then a small businessman who later on rose to become one of the legends of Indian industry. Mukesh Ambani did his Bachelors in Chemical Engineering from University of Bombay and Masters in Business Administration from Stanford University, USA. He joined Reliance Industries in 1981. He directed and led the creation of the world's largest grassroots petroleum refinery at Jamnagar with a current capacity of 660,000 barrels per day (33 million tons per year) integrated with petrochemicals, power generation, port and related infrastructure. Mukesh Ambani was chosen as the ET Business leader of the Year 2006. He was ranked 42nd among the World's Most Respected Business Leaders and second among the four Indian CEOs featured in a survey conducted by PricewaterhouseCoopers and published in Financial Times, London, November 2004. Mukesh Ambani was also conferred the Asia Society Leadership Award by the Asia Society, Washington D.C., USA,
17. NAGAVARA RAMARAO NARAYANA MURTHY

Founder & chief mentor, Infosys He was the CEO of Infosys for 21 years, from 1981 to 2002. After stepping down as CEO in 2002, he has broadened his scope of activities to social services as well as promoting India globally. He is a living legend and an epitome of the fact that honesty, transparency, and moral integrity are not at variance with business acumen. Born on August 20, 1946, N.R. Narayana Murthy is a B.E. Electrical from University of Mysore (1967) and M. Tech from IIT Kanpur (1969). Narayan Murthy began his career with Patni Computer Systems in Pune. In 1981, Narayana Murthy founded Infosys with six other software professionals. In 1987, Infosys opened its first international office in U.S.A. In June 2000, Asiaweek magazine featured him in a list of Asia's 50 Most Powerful People. In 2001, Narayana Murthy was named by TIME/CNN as one of the 25 most influential global executives. He was the first recipient of the Indo-French Forum Medal (2003) and was voted the World Entrepreneur of the Year - 2003 by Ernst and Young. The Economist ranked Narayana Murthy eighth on the list of the 15 most admired global leaders (2005) and Narayan Murthy also topped the Economic Times Corporate Dossier list of India's most powerful CEOs for two consecutive years - 2004 and 2005. Murthy started a new venture capital fund calle d Catamaran Venture Fund with the money he got by selling 800,000 Infosys shares worth Rs 174 crore (Rs 1.74 billion). His wife, Sudha Murthy, also helped him set up his VC fund by giving him Rs 430 crore (Rs 4.3 billion) which she got by selling quarter of her stake in Infosys. Murthy said, "I want Infosys to be a place where people of different genders, nationalities, races and religious beliefs work together in an environment of intense competition but utmost harmony, courtesy and dignity to add more and more value to our customers day after day."
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18. NAINA LAL KIDWAI

Naina Lal Kidwai is Group General Manager and Country Head of HSBC in India, which employs 35,000 people. At HSBC she has held positions as Chief Executive Officer and Deputy Chief Executive Officer of HSBC Bank in India and Managing Director of HSBC Securities and Capital Markets India Private Limited. She became the group's Country Head in 2009. An MBA from Harvard Business School, she has been recognised in India and abroad with several awards and listings for leadership and business. Kidwai has repeatedly ranked in the Fortune global list of Top Women in Business, 12th in the Wall Street Journal 2006. She received the Padma Shri from the Government of India for her contribution to Trade and Industry. Her international engagements include being a non executive director on the board of Nestle SA, Chairman City of Londons Advisory Council for India, Global Advisor Harvard Business School. She is on the Governing Board of NCAER, Audit Advisory Board of the Comptroller and Auditor General of India, and on the National Executive Committee of CII and FICCI. Her interests include microfinance and livelihood creation for rural women and environment.
19. RATAN NAVAL TATA

Tata Group chairman Ratan Tata was voted to be head and shoulders above any other business leader in India by an overwhelmingly 60 per cent of the votes in his favour as India's most admired business leader. Infosys co-founder and chairman N R Narayana Murthy was the second most admired business leader in India, followed by Mukesh Ambani and others. . . In 1991, he took over as group chairman from J R D Tata, pushing out the old guard and ushering in younger managers. Under his guidance, Tata Consultancy Services went public and Tata Motors was listed on the New York Stock Exchange. In 1998, Tata Motors introduced his brainchild, the Tata Indica. On January 31, 2007, Tata Sons successfully acquired Corus Group, an Anglo-Dutch steel and aluminium producer. The merger created the fifth largest steel producing entity in the world. On March 26, 2008, Tata Motors bought Jaguar & Land Rover from Ford Motor Company. Ratan Tata's dream was to manufacture a car costing Rs 100,000. He realised his dream by unveiling the Nano in New Delhi Auto Expo on January 10, 2008. It was finally launched on March 23, 2009.
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20. RICHARD BRANSON

Richard Branson is an adventurous British entrepreneur who founded the Virgin group that includes over 400 companies. Virgin, the globally recognized brand, has ventured across almost everything from credit cards, to airlines and music megastores to telecommunications and lifestyle. Bransons first business venture was a magazine called Student which he successfully ran at the age 16. Today, he has been consistently seeking new business opportunities and challenging the risks ahead; his vision, setting goals and accomplishing them under strict deadline has made him one of the highest regarded businessmen of 21st century. He is also popular as the founding father of Space Tourism. In 1999, he was awarded a Knighthood for his significant contribution to entrepreneurship.
A business has to be involving, it has to be fun, and it has to exercise your creative instincts. Richard Branson
21. SAM WALTON

Sam Walton is the founder of the largest retailer in the world, Wal-mart, which first opened in 1962 in Bentonville, Arkansas. Throughout his career, he worked hard to bring a wide variety of products in low prices to his consumers. According to the Forbes Global 2011 list, Wal-mart is now the worlds 18th largest public corporation and the biggest private employer in the world with more than 2 million employees and 8,500 stores in 15 countries. He earned many honors in his lifetime, some of them are: in 1998, Time magazine kept him in list of 100 most influential people of the 20th Century. In 1992, he was honored with the Presidential Medal of Freedom from President George H. W. Bush for his significant contribution in retail. Outstanding leaders go out of their way to boost the self-esteem of their personnel. If people believe in themselves, its amazing what they can accomplish. Sam Walton
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22. STEVE JOBS

Steve Jobs is one of the most influential innovators, entrepreneurs, and business leaders in history who changed the world through technology. He alone revolutionized three multi-billion dollar industriespersonal computing, mobile phones, and the music industry. More importantly, he transformed the way people read, play and work and live. Steve Jobs business accomplishments and decisions have greatly impacted our lives, from the smart and attractive outlook of glassfaced smart devices to our access to songs, movies, animation and software developments. Minutest search of the business history may show his prominence, putting him beside the business legends such as Henry Ford and John Rockefeller in modernizing the whole society. His absence will be tremendously felt in coming years.
Ray Sharma, chairman of Toronto-based mobile app developer Xtreme Labs, states that Jobs had a truly yogic way of thinking. He uniquely upended the computer, digital movie, music, and mobile industries. He will be an inspiration for the ages and we will sorely miss his genius.
23. SUNIL BHARTI MITTAL

Chairman & Managing Director, Bharti Enterprises A first generation entrepreneur, Mittal started his first business to make crankshafts for local bicycle manufacturers in April 1976 at the age of 18, with a capital investment of Rs 20,000 borrowed from his father. In 1980 he sold his bicycle parts and yarn factories and moved to Mumbai. In 1984, he started assembling pushbutton phones in India. In 1992, he successfully bid for one of the four mobile phone network licences auctioned in India. His plans were finally approved by the government in 1994 and he launched services in Delhi in 1995. Bharti Cellular Limited offered services under the brand name AirTel. In November 2006, he struck a joint venture deal with Wal-Mart, the US retail giant, to start a number of retail stores across India. In July 2006, he attracted many key executives from Reliance ADAG, NIS Sparta and created Bharti Comtel. Mittal, failed in his bid to buy South African telecom giant MTN, but was successful in buying Zain Telecom of Kuwait.
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24. TED TURNER

Ted Turner, a Media mogul, is widely known as the founder of CNN and philanthropy. He is also the founder of WTBS that initiated the concept of superstation in cable television nationwide by means of satellite and the system was later dubbed TBS that is Turner Broadcasting Station and reached more than 160 million homes in approximately 40 different languages in around 200 countries across the world. He revolutionized the American news media by turning his fathers billboard business into Turner Broadcasting System and Cable News Network. Turners candidness, vision, determination, generosity have always made him worth noticing. He also supports environmentalism through Turner Foundation. He reportedly donated $1 billion to the United Nations for making the environment better. You should set goals beyond your reach so you always have something to live for. You can never quit. Winner never quit, and quitters never win. You should set goals beyond your reach so you always have something to live for. You can never quit. Winner never quit, and quitters never win. Ted Turner
25. VIJAY MALLYA

Chairman, United Breweries Group & Kingfisher Airlines Mallya took over as chairman of United Breweries Group in 1984. In May 2007, United Breweries Group announced the all-cash acquisition of scotch whisky maker Whyte & Mackay for pound 595 million (approximately Rs 6000 crore). In 2005, Mallya established Kingfisher Airlines, which later bought a 26 per cent stake in Air Deccan, a low cost Indian airline. Mallya later rebranded it as Kingfisher Red. In 2007, Mallya and the Mol family from The Netherlands bought the Spyker F1 team for Euro 88 million. The team changed its name to Force India F1 from the 2008 Season. Mallyas United Breweries sponsors the East Bengal and Mohun Bagan football clubs in Kolkata. He also was part of the consortium that acquired Queens Park Rangers FC, as part of the Bernie Ecclestone, Flavio Briatore and Lakshmi Mittal. Mallya also owns the Royal Challengers Bangalore team in the Indian Premier League. Mallya entered politics in 2000 and replaced Subramanian Swamy as the president of the Janata Party. He is a Member of Parliament in Rajya Sabha. In 2004, he placed the winning bid of pound 175,000 for the sword of Tipu Sultan at an auction in London, and brought it back to India. In March 2009, Mallya successfully bid for the belongings of Mahatma Gandhi at $1.8 million, in a New York auction.
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Major world organizations
1. ASSOCIATION OF SOUTHEAST ASIAN NATIONS (ASEAN)

The Association of Southeast Asian Nations (ASEAN ) is a geo-political and economic organization of ten countries located in Southeast Asia, which was formed on 8 August 1967 by Indonesia, Malaysia, the Philippines, Singapore and Thailand. Since then, membership has expanded to include Brunei, Burma (Myanmar), Cambodia, Laos, and Vietnam. Its aims include accelerating economic growth, social progress and cultural development among its members, protection of regional peace and stability, and opportunities for member countries to discuss differences peacefully. ASEAN covers a land area of 4.46 million km, which is 3% of the total land area of Earth, and has a population of approximately 600 million people, which is 8.8% of the worlds population. The sea area of ASEAN is about three times larger than its land counterpart. In 2010, its combined nominal GDP had grown to US$1.8 trillion. If ASEAN were a single entity, it would rank as the ninth largest economy in the world, behind the United States, China, Japan, Germany, France, Brazil, the United Kingdom, and Italy.
AIMS AND PURPOSES As set out in the ASEAN Declaration, the aims and purposes of ASEAN are: 1. To accelerate the economic growth, social progress and cultural development in the region through joint endeavors in the spirit of equality and partnership in order to strengthen the foundation for a prosperous and peaceful community of Southeast Asian Nations; To promote regional peace and stability through abiding respect for justice and the rule of law in the relationship among countries of the region and adherence to the principles of the United Nations Charter; To promote active collaboration and mutual assistance on matters of common interest in the economic, social, cultural, technical, scientific and administrative fields; To provide assistance to each other in the form of training and research facilities in the educational, professional, technical and administrative spheres; To collaborate more effectively for the greater utilization of their agriculture and industries, the expansion of their trade, including the study of the problems of international commodity trade, the improvement of their transportation and communications facilities and the raising of the living standards of their peoples; To promote Southeast Asian studies; and To maintain close and beneficial cooperation with existing international and regional organizations with similar aims and purposes, and explore all avenues for even closer cooperation among themselves.
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2. EUROPEAN UNION (EU)

The EU is a unique economic and political partnership between 27 European countries that together cover much of the continent. It was created in the aftermath of the Second World War. The first steps were to foster economic cooperation: the idea being that countries who trade with one another become economically interdependent and so more likely to avoid conflict. Since then, the EU has developed into a huge single market with the euro as its common currency. What began as a purely economic union, has evolved into an organization spanning all policy areas, from development aid to environment. It has delivered half a century of peace, stability and prosperity, helped raise living standards, and launched a single European currency. Thanks to the abolition of border controls between EU countries, people can travel freely throughout most of the continent. And its also become much easier to live and work abroad in Europe. The EU is based on the rule of law. This means that everything that it does is founded on treaties, voluntarily and democratically agreed by all the member countries. These binding agreements set out the EUs goals in its many areas of activity. One of its main goals is to promote human rights both internally and around the world. Human dignity, freedom, democracy, equality, the rule of law and respect for human rights: these are the core values of the EU. Since 2009, signing of the Treaty of Lisbon, the EUs Charter of Fundamental Rights brings all these rights together in a single document. The EUs institutions are legally bound to uphold them, as are EU governments whenever they apply EU law. The single market is the EUs main economic engine, enabling most goods, services, money and people to move freely. Another key objective is to develop this huge resource to ensure that Europeans can draw maximum benefit. As it continues to grow, the EU remains focused on making its governing institutions more transparent and democratic. More powers are being given to the directly elected European Parliament, while national parliaments are being given a greater role, working alongside the European institutions. In turn, European citizens have an ever-increasing number of channels for taking part in the political process.
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MEMBER COUNTRIES OF EU
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3. GROUP OF EIGHT (G8)

The Group of Eight (G8. is a forum for the governments of eight of the worlds largest economies. (It excludes, however, two of the actual eight largest economies by nominal GDP: China, 2nd and Brazil, 6th). The forum originated with a 1975 summit hosted by France that brought together representatives of six governments: France, Germany, Italy, Japan, the United Kingdom, and the United States, thus leading to the name Group of Six or G6. The summit became known as the Group of Seven or G7 the following year with the addition of Canada. In 1997, Russia was added to group which then came to be known as G8. The European Union is represented within the G8 but cannot host or chair summits. By design, the G8 deliberately lacks an administrative structure like those for international organizations, such as the United Nations or the World Bank. The group does not have a permanent secretariat or offices for its members. The presidency of the group rotates annually among the member countries, with each new term beginning on 1 January of the year . The country holding the presidency is responsible for planning and hosting a series of ministerial-level meetings, leading up to a mid-year summit attended by the heads of government. The president of the European Commission participates as an equal in all summit events. The ministerial meetings bring together ministers responsible for various portfolios to discuss issues of mutual or global concern. The range of topics include health, law enforcement, labor, economic and social development, energy, environment, foreign affairs, justice and interior, terrorism, and trade. There are also a separate set of meetings known as the G8+5, created during the 2005 Gleneagles, Scotland summit, that is attended by finance and energy ministers from all eight member countries in addition to the five outreach countries which are also known as the Group of Five Brazil, Peoples Republic of China, India, Mexico, and South Africa. G8-countries represent... 8 of 13 top-ranked leading export countries. 6 of 10 top-ranked countries with the largest gold reserves (USA, Germany, Italy, France, Russia and Japan.) 6 of 10 largest major stock exchanges by traded value and market capitalization 8 of 10 top-ranked economies (by nominal GDP) of the world, according to latest (2011 data) International Monetary Funds statistics. 5 of 20 top-ranked countries generating a nominal GDP per capita above US$40,000 (Canada, USA, Japan, France, Germany), from the same 2011 IMF data. 8 of 30 top-ranked nations with large amounts of foreign-exchange reserves in their central banks 4 out of 9 countries having nuclear weapons (France, Russia, UK, USA), 3 additional countries that have the capability to rapidly produce nuclear warheads (Canada, Germany, Japan) 3 of the worlds top-10 largest oil producers (Russia, USA and Canada) 7 of the 9 largest nuclear energy producers (USA, France, Japan, Russia, Germany, Canada, UK), even though Germany will wean itself from nuclear power by 2022. As with Japan, it shut down all of its nuclear reactors because of the earthquake in 2011; the first time the nation has gone nuclear-free since 1970. The 7 largest donors to the UN budget for the 2011 annual fiscal year (U.S., Japan, Germany, UK, France, Italy, Canada.)
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4. INTERNATIONAL LABOUR ORGANIZATION (ILO)

The International Labour Organization (ILO) is the only tripartite U.N. agency with government, employer, and worker representatives. This tripartite structure makes the ILO a unique forum in which the governments and the social partners of the economy of its 183 Member States can freely and openly debate and elaborate labour standards and policies. India is a founder member of the International Labour Organization, which came into existence in 1919 as a part of the Treaty of Versailles that ended World War I, to reflect the belief that universal and lasting peace can be accomplished only if it is based on social justice. As of 2012, the ILO has 185 Members. The International Labour Office is the permanent secretariat of the International Labour Organization. It is the focal point for International Labour Organizations overall activities, which it prepares under the scrutiny of the Governing Body and under the leadership of the DirectorGeneral. The Office employs some 2,700 officials from over 150 nations at its headquarters in Geneva, and in around 40 field offices around the world. Among these officials, 900 work in technical cooperation programmes and projects. The Tribunal examines employment-related complaints from officials of the International Labour Office and of the other international organizations that have recognized its jurisdiction. The Administrative Tribunal of the International Labour Organization is the heir of the Administrative Tribunal of the League of Nations, which wa s competent from 1927 to 1946 to hear complaints against the Secretariat of the League of Nations and against the International Labour Office. Since 1947 the Tribunal has heard complaints from serving and former officials of the International Labour Office and of the other international organizations that have recognized its jurisdiction. It is currently open to approximately 46,000 international civil servants who are serving or former officials of some sixty organizations. The ILO is a major resource centre for information, analysis and guidance on the world of work. Research accompanies and reinforces all of the Organizations standard-setting and technical cooperation activities and the ILO is universally regarded as an authoritative source of knowledge on the world of work. Its institutes and Centres are specialized departments of the Organization which provide specialized support for ILOs offices and constituents.
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5. INTERNATIONAL MONETARY FUND (IMF)

The International Monetary Fund (IMF) is an international organization that was created on July 22, 1944 at the Bretton Woods Conference and came into existence on December 27, 1945 when 29 countries signed the Articles of Agreement. It originally had 45 members. The IMFs stated goal was to stabilize exchange rates and assist the reconstruction of the worlds international payment system post-World War II. Countries contribute money to pool through a quota system from which countries with payment imbalances can borrow funds temporarily. Through this activity and others such as surveillance of its members economies and policies, the IMF works to improve the economies of its member countries. The IMF describes itself as an organization of 188 countries (a s of April 2012), working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty. The organizations stated objectives are to promote international economic cooperation, international trade, employment and exchange rate stability, including making financial resources available to member countries to meet balance of payments needs.[3] Its headquarters are in Washington, D.C.
The IMF works with other international organizations to promote growth and poverty reduction. It also interacts with think tanks, civil society and the media on a daily basis. The IMF has a Managing Director, who is head of the staff and Chairman of the Executive Board. The Managing Director is assisted by a First Deputy Managing Director and three other Deputy Managing Directors The IMFs employees come from all over the world; they are responsible to the IMF and not to the authorities of the countries of which they are citizens. The IMF staff is organized mainly into area; functional; and information, liaison, and support responsibilities.
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6. INTERNATIONAL OLYMPIC COMMITTEE (IOC)

The International Olympic Committee ( IOC) is an international non-governmental not-for-profit organization based in Lausanne, Switzerland, created by Pierre, Baron de Coubertin, on 23 June 1894 with Demetrios Vikelas as its first president. Today, its membership consists of 105 active members and 32 honorary members. The IOC organizes the modern Olympic Games and Youth Olympic Games, held in Summer and Winter, every four years. The first Summer Olympics organized by the International Olympic Committee were held in Athens, Greece, in 1896; the first Winter Olympics were in Chamonix, France, in 1924. Until 1992, both Summer and Winter Olympics were held in the same year. After that year, however, the IOC shifted the Winter Olympics to the even years between Summer Games, to help space the planning of the two events two years apart from one another, and improve the financial balance of the IOC, which receives greater income on Olympic years. The first Summer Youth Olympics were in Singapore in 2010 and the first Winter Youth Olympics were held in Innsbruck in 2012.
The IOC Session is the general meeting of the members of the IOC, held once a year in which each member has one vote. It is the IOCs supreme organ and its decisions are final. Extraordinary Sessions may be convened by the President or upon the written request of at least one third of the members. Among others, the powers of the Session are: To adopt or amend the Olympic Charter. To elect the members of the IOC, the Honorary President and the honorary members. To elect the President, the Vice-Presidents and all other members of the IOC Executive Board. To elect the host city of the Olympic Games.
The IOC Executive Board The IOC Executive Board consists of the President, four Vice-Presidents and ten other members. All members of the IOC Executive Board are elected by the Session, in a secret ballot, by a majority of the votes cast. The IOC Executive Board assumes the general overall responsibility for the administration of the IOC and the management of its affairs. The IOC Session elects, by secret ballot, the IOC President from among its members for a term of eight years renewable once for a term of four years. The current IOC President, Jacques Rogge, was re-elected for a second term that consists of four years, on 9 October 2009. The International Olympic Committee is the supreme authority of the Olympic Movement acting as a catalyst for collaboration between all parties of the Olympic family, from the National Olympic Committees (NOCs), the International Sports Federations (IFs) and the athletes.
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7. ORGANIZATION OF THE PETROLEUM EXPORTING COUNTRIES (OPEC)

The Organization of the Petroleum Exporting Countries ( OPEC )is an intergovernmental organization of twelve oil-producing countries made up of Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela. OPEC has had its headquarters in Vienna and hosts regular meetings among the oil ministers of its Member Countries. Indonesia withdrew in 2008 after it became a net importer of oil, but stated it would likely return if it became a net exporter again. According to its statutes, one of the principle goals is the determination of the best means for safeguarding the organizations interests, individually and collectively. It also pursues ways and means of ensuring the stabilization of prices in international oil markets with a view to eliminating harmful and unnecessary fluctuations; giving due regard at all times to the interests of the producing nations and to the necessity of securing a steady income to the producing countries; an efficient and regular supply of petroleum to consuming nations, and a fair return on their capital to those investing in the petroleum industry. OPECs influence on the market has been widely criticized, since it became effective in determining production and prices. Arab members of OPEC alarmed the developed world when they used the oil weapon during the Yom Kippur War by implementing oil embargoes and initiating the 1973 oil crisis. Although largely political explanations for the timing and extent of the OPEC price increases are also valid, from OPECs point of view, these changes were triggered largely by previous unilateral changes in the world financial system and the ensuing period of high inflation in both the developed and developing world. This explanation encompasses OPEC actions both before and after the outbreak of hostilities in October 1973, and concludes that OPEC countries were only staying even by dramatically raising the dollar price of oil. OPECs ability to control the price of oil has diminished somewhat since then, due to the subsequent discovery and development of large oil reserves in Alaska, the North Sea, Canada, the Gulf of Mexico, the opening up of Russia, and market modernization. As of November 2010, OPEC members collectively hold 79% of world crude oil reserves and 44% of the worlds crude oil production capacity, affording them some control over the global market.
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8. UNITED NATIONS (UN)

The United Nations is an international organization founded in 1945 after the Second World War by 51 countries committed to maintaining international peace and security, developing friendly relations among nations and promoting social progress, better living standards and human rights. The UN has 4 main purposes To keep peace throughout the world; To develop friendly relations among nations;
To help nations work together to improve the lives of poor people, to conquer hunger, disease and illiteracy, and to encourage respect for each others rights and freedoms; To be a centre for harmonizing the actions of nations to achieve these goals.
Due to its unique international character, and the powers vested in its founding Charter, the Organization can take action on a wide range of issues, and provide a forum for its 193 Member States to express their views, through the General Assembly, the Security Council, the Economic and Social Council and other bodies and committees. The work of the United Nations reaches every corner of the globe. Although best known for peacekeeping, peace building, conflict prevention and humanitarian assistance, there are many other ways the United Nations and its System (specialized agencies, funds and programmes) affect our lives and make the world a better place. The Organization works on a broad range of fundamental issues, from sustainable development, environment and refugees protection, disaster relief, counter terrorism, disarmament and non-proliferation, to promoting democracy, human rights, gender equality and the advancement of women, governance, economic and social development and international health, clearing landmines, expanding food production, and more, in order to achieve its goals and coordinate efforts for a safer world for this and future generations.
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9. THE WORLD BANK

The World Bank is a vital source of financial and technical assistance to developing countries around the world. The World Bank is not a bank in the ordinary sense but a unique partnership to reduce poverty and support development. It comprises of two institutions managed by 188 member countries: the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). The IBRD aims to reduce poverty in middle-income and creditworthy poorer countries, while IDA focuse s exclusively on the worlds poorest countries. These institutions are part of a larger body known as the World Bank Group. Established in 1944, the World Bank is headquartered in Washington, D.C. and has more than 9,000 employees in more than 100 offices worldwide. Strategy Six strategic themes drive the Banks work, focusing on the poorest countries, fragile and conflictaffected states, the Arab world, middle-income countries, global public goods issues, and delivery of knowledge and learning services. Financial Products and Services The World Bank provides low-interest loans, intere st-free credits, and grants to developing countries. These support a wide array of investments in such areas as education, health, public administration, infrastructure, financial and private sector development, agriculture, and environmental and natural resource management. Some of its projects are co-financed with governments, other multilateral institutions, commercial banks, export credit agencies, and private sector investors. The World Bank also provides or facilitates financing through trust fund partnerships with bilateral and multilateral donors. Many partners have asked the Bank to help manage initiatives that address needs across a wide range of sectors and developing regions. Innovative Knowledge Sharing The World Bank offers support to developing countries through policy advice, research and analysis, and technical assistance. Its analytical work often underpins World Bank financing and helps inform developing countries own investments. In addition, it supports capacity development in the countries where it operates and serves. The World Bank also sponsors, hosts, or participates in many conferences and forums on issues of development, often in collaboration with partners. To ensure that countries can access the best global expertise and help generate cutting-edge knowledge, the Bank is constantly seeking to improve the way it shares its knowledge and engages with clients and the public at large.
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10. WORLD TRADE ORGANIZATION (WTO)

The World Trade Organization ( WTO) is an organization that intends to supervise and liberalize international trade. The organization officially commenced on January 1, 1995 under the Marrakech Agreement, replacing the General Agreement on Tariffs and Trade (GATT), which commenced in 1948. The organization deals with regulation of trade between participating countries; it provides a framework for negotiating and formalizing trade agreements, and a dispute resolution process aimed at enforcing participants adherence to WTO agreements which are signed by representatives of member governments and ratified by their parliaments. Most of the issues that the WTO focuses on derive from previous trade negotiations, especially from the Uruguay Round (19861994).
The organization is attempting to complete negotiations on the Doha Development Round, which was launched in 2001 with an explicit focus on addressing the needs of developing countries. According to a European Union statement, The 2008 Ministerial meeting broke down over a disagreement between exporters of agricultural bulk commodities and countries with large numbers of subsistence farmers on the precise terms of a special safeguard measure to protect farmers from surges in imports. The position of the European Commission is that The successful conclusion of the Doha negotiations would confirm the central role of multilateral liberalization and rule-making. It would confirm the WTO as a powerful shield against protectionist backsliding. An impasse remains. As of June 2012 [update], the future of the Doha Round remains uncertain: The work programme lists 21 subjects in which the original deadline of 1 January 2005 was missed (So was the next unofficial target of the end of 2006.) There are a number of ways of looking at the World Trade Organization. It is an organization for trade opening. It is a forum for governments to negotiate trade agreements. It is a place for them to settle trade disputes. It operates a system of trade rules. Essentially, the WTO is a place where member governments try to sort out the trade problems they face with each other.
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Major eConoMiC indiCators
MAJOR ECONOMIC INDICATORS MEANING, METHODOLOGY AND IMPACT ON GLOBAL BUSINESS ENVIRONMENT
An economic indicator (or business indicator) is statistic about the economy. Economic indicators allow analysis of economic performance and predictions of future performance. One application of economic indicators is the study of business cycles. Economic indicators include various indices, earning reports, and economic summaries. Examples: Gross Domestic Product, Consumer Price Index, unemployment rate, quits rate, housing starts, (a measure for inflation), Consumer Leverage Ratio, industrial production, bankruptcies, broadband internet penetration, retail sales, stock market prices, money supply changes. Classification by timing
Economic indicators can be classified into three categories, according to their usual timing in relation to the business cycle: leading indicators, lagging indicators, and coincident indicators. Leading indicators Leading indicators are indicators that usually change before the economy as a whole changes. They are therefore useful as short-term predict ors of the economy. Stock market returns are a leading indicator: the stock market usually begins to decline before the economy as a whole declines and usually begins to improve before the general economy begins to recover from a slump. Other leading indicators include the index of consumer expectations, building permits, and the money supply. Lagging indicators Lagging indicators are indicators that usually change after the economy as a whole does. Typically the lag is a few quarters of a year. The unemployment rate is a lagging indicator: employment tends to increase two or three quarters after an upturn in the general economy. In a performance measuring system, profit earned by a business is a lagging indicator as it reflects a historical performance; similarly, improved customer satisfaction is the result of initiatives taken in the past. Coincident indicators Coincident indicators change at approximately the same time as the whole economy, thereby providing information about the current state of the economy. There are many coincident economic indicators, such as Gross Domestic Product, industrial production, personal income and retail sales. A coincident index may be used to identify, after the fact, the dates of peaks and troughs in the business cycle.
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1. GROSS DOMESTIC PRODUCT (GDP)

GDP or gross domestic product is one of the primary indicators used to measure the health of a countrys economy. Gross domestic product (GDP) is the market value of all officially recognized final goods and services produced within a country in a given period equal to total consumer, investment and government spending, plus the value of exports, minus the value of imports. GDP per capita is often considered an indicator of a countrys standard of living; GDP per capita is not a measure of personal income. Under economic theory, GDP per capita exactly equals the gross domestic income (GDI) per capita Generally, GDP is expressed as a comparison with the previous quarter or year. For instance, if the year-to-year GDP is up 3%, this indicates that the economy has grown by 3% in comparison to the last year. As one can see, economic production and growth, what GDP indicates, has a great impact on nearly everyone within that economy. For instance, when the economy is good and healthy, there will be low unemployment and wage increases as businesses require labor to meet the growing economy. A considerable change in GDP , whether up or down, usually has a significant effect on stock market as well. A bad economy usually means lesser profits for companies, which in turn means lower stock prices. Investors are really influenced by negative GDP growth, which is one of the factors that economists use to determine whether an economy is in recession or not. Measuring GDP is a little complicated. It is best done by the economists. Basically, the calculation can be done in any of the two ways: either by summing up what everyone earned in a given year (known as income approach), or by summing up what everyone spent (known as expenditure method). Reasonably, both measures should come to roughly the same total. India achieved over 9% GDP annual growth for the fiscal years 2005-06, 2006-07 and 2007-08. There was a major slowdown in the second half of 2008-09, because of the emerging financial crisis in the industrialized nations in 2007 which has spread to the real economy across the world. The GDP growth rate in 2008-09 was 6.7%, with the growth of around 6% in the last two quarters. The fiscal year 2009-10 began as a difficult one. It was also a year for the policymakers to reckon the situation and take a risk of giving fiscal expansion to counteract the negative effect of the global slowdown. However, the latter half of year 2009-10 saw the economy recover from the slowdown. This recovery was remarkable not only in terms of overall growth but also in terms of some fundamentals that justify optimism for the Indian economy. The GDP for the year 200910 was 7.2%, which is a remarkable recovery. On the downside, rising food inflation is a major concern. There has been high double-digit food inflation in 2009-10. The food inflation in 2009-10 was close to 18% and it may spread. Along with that the hike in the fuel prices will impact inflation. It is important to differentiate Gross Domestic Product from Gross National Product (GNP). GDP includes only goods and services produced within the geographic boundaries of the country, regardless of the producers nationality. GNP doesnt include goods and services produced by foreign producers, but does include goods and services produced by home country firms operating in foreign countries.
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Top 10 GDP Countries 2000-2050

This table shows the top 10 countries by GDP (Gross Domestic Product) expressed in billions of US$, for the years 2000, 2010, 2020, 2030, 2040 and 2050, listed by projected 2050 rank. SOURCE: Goldm an Sachs
2050 Rank 1 *
Country Name CHN China EU European Union *
2000 2010 2020 2030 2040 2050 GDP GDP GDP GDP GDP GDP 1078 2998 7070 14312 26439 44453
9395 12965 16861 21075 28323 35288
2 3 4 5 6 7
United USA States IND India JPN Japan BRA Brazil RUS Russia UK United Kingdom
9825 13271 16415 20833 27229 35165 469 929 2104 5221 4935 12367 27803 5810 6039 6673
4176 4601
762 391
668 847
1333 1741 2285
2189 2980 2649
3740 4467 3201
6074 5870
1437 1876
3782
8 9 10
GER Germany FRA France ITA Italy
1875 2212 1311 1622 1078 1337
2524 1930 1553
2697 2267 1671
3147 2668 1788
3603 3148 2061
* European Union GDP , which I calculated myself, is shown for comparison, but not ranked.
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2. PER CAPITA INCOME (PCI)

Per Capita Income (PCI) the total national income divided by the number of people in the nation Per capita income is often used as average income, a measure of the wealth of the population of a nation, particularly in comparison to other nations. It is usually expressed in terms of a commonly used international currency such as the Euro () or United States Dollar ($), and is useful because it is widely known, easily calculated from readily-available GDP and population estimates, and produces a useful statistic for comparison. It is a measure of the amount of money that is being earned per person in a certain area. Income per capita can apply to the average per-person income for a city, region or country and is used as a means of evaluating the living conditions and quality of life in different areas. Because per-capita income is the overall income of a population divided by the number of people included in the population, it does not always give an accurate representation of the quality of life due to the function's inability to account for skewed data. Forbes magazine published an article recently on the richest 15 countries in the world and the surprise was that on top of this list is the Arab state of Qatar. Qatar topped a list that classifies countries on the basis of per capita gross domestic product, where the annual per capita income in it exceeds 88 Thousand Dollars, according to figures from the International Monetary Fund the world of 2010. Thanks to enormous economic revenues of oil and gas reserves, in comparison with the relatively low population (1.7 million inhabitants), as well as the diversity of investments carried out by the Qatari government from owning stakes in global financial institutions, universities and multinational companies, through the organization of major world events as the 2022 FIFA World Cup. It should be noted that these figures do not mean what the person obtain as an annual salary in these countries, it means the amount of his share of the value of goods and services provided by the State in which the person lives if it was divided on the entire population. Here is the countdown of the richest 10 countries in the world according to Forbes:
10. The Netherlands: Average income per capita: 40,973 dollars a year, located in Western Europe, bordering the North Sea, with its capital Amsterdam and a population of 16 million people.
9. Switzerland: Average income per capita: 41,950 dollars a year, a federal republic located in Central Europe, with its capital Bern and a population of 7.7 million.
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8. Hong Kong: Average income per capita: 45,944 dollars a year, is one of the administrative regions of China, located in East Asia with a population of 7 million people.
7. The United States: Average income per capita: 46,860 dollars a year, a federal republic comprising fifty states and is located in North America; its capital is Washington DC and has a population of 313 million.
6. United Arab Emirates: Average income per capita: 47,439 dollars a year, is located east of the Arabian Peninsula in Southwest Asia, bordering the Persian Gulf, Abu Dhabi as its capital and a population of 8.2 million people.
5. Brunei: Average income per capita: 48,333 dollars a year, is located on the northern coast of the island of Borneo in Southeast Asia, its capital is Bandar Seri Pkawan, and has a population of 388 thousand people.
4. Norway: Average income per capita: 51,959 dollars a year, located in northern Europe and occupies the western part of the Scandinavian Peninsula, its capital is Oslo and has a population of 4.9 million people.
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3. Singapore: Average income per capita: 56,694 dollars a year, is located on an island in South East Asia, Singapore as its capital, the population is 4.9 million people.
2. Luxembourg: Average income per capita: 81,466 dollars a year, is located in Western Europe between Germany, France, Belgium, with a population of 502 thousand people.
1. Qatar: Average income per capita: 88,222 dollars a year, it's located east of the Arabian Peninsula in Southwest Asia, bordering the Persian Gulf, its capital is Doha, and has a population of 1.8 million people.
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3. GLOBAL INNOVATION INDEX (GII)

The Global Innovation Index 2012 goes to the press in the second quarter of 2012, while the global economic recovery is fragile and uneven across different regions. Most current economic forecasts by leading international economic institutions predict a slowdown of gross domestic product (GDP) growth throughout 2012 and an uncertain recovery in 2013. In this context, the economic policy debate is placing renewed emphasis on achieving an appropriate policy framework that fosters growth and employment while promoting sustainable public finances. Policies that promote innovation and structural policies fostering long-term output growth should feature prominently in these discussions. For this fifth edition, the World Intellectual Property Organization (a specialized agency of the United Nations) joined INSEAD as co-publisher of the Report. They also collaborated with Alcatel-Lucent, Booz and Company, and the Confederation of Indian Industry as Knowledge Partners. The Report covers 141 economies (16 more than in 2011), accounting for 94.9% of the world's population and 99.4% of the world's Gross Domestic Product (in current US dollars). The Global Innovation Index Framework The Global Innovation Index 2012 (GII) relies on two subindices, the Innovation Input Sub-Index and the Innovation Output Sub-Index, each built around pillars Five input pillars capture elements of the national economy that enable innovative activities: (1) Institutions, (2) Human capital and research, (3) Infrastructure, (4) Market sophistication, and (5) Business sophistication. Two output pillars capture actual evidence of innovation outputs: (6) Knowledge and technology outputs and (7) Creative outputs.
Top 10 Leaders in the Global Innovation Index 1. Switzerland 2. Sweden 3. Singapore 4. Finland 5. United Kingdom
6. 7. 8. 9. 10.
Netherlands Denmark Hong Kong (China) Ireland United States of America
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4. BIG MAC INDEX OF CURRENCY VALUATION FAIRNESS

Product prices often vary across market. If prices of product between two countries are equal, they will be same when the price in one market is converted into the currency of the other nation at the prevailing exchange rate. For example, if the UK price of a product is equal to that in US when the pound price is converted into dollar price at the existing exchange rate between the two currencies, prices in both markets are same. This is what Purchasing Power Parity theory says. If a products price ratio between two markets differs from the exchange ratio of currencies of the two countries, prices are not the same in these markets. The Big mac hamburger sandwich sold by McDonalds has been viewed as an international monetary standard. The Big Mac index, which The Economist has been compiling since 1986, is based on the notion that a currencys price should reflect its purchasing power. Economist lost some faith in PPP as a guide to exchange rate in 1970s, after the worlds currencies abandoned their anchors to the dollar. By the end of the decade, exchange rates seemed to be drifting without chart or compass. Later studies showed that a currencys purchasing power does assert itself over the long run. But it might take three to five years for a misaligned exchange rate to move even halfway back into line. Although the purchasing power index should preferably be based on prices of large variety of products, prices of internationally marketed product give some rough indication of the price variation across markets, i.e. under or overvaluation of currencies. After all, the amount you pay for a Big Mac is a reflection of everything from sesame seed prices to labour cost. The Big Mac index shows that burger prices can certainly fall out of line with each other. The Economist uses the price of the ubiquitous McDonalds meal to calculate the Big Mac Index, a guide showing how far from fair value different world currencies are. The Big Mac theory (a.k.a. purchasing-power parity or PPP) says that exchange rates should even out the prices of Big Macs sold across the world. Few Major Rankings as per Big Mac
Under(-)/Over(+) Implied Big Mac Valuation vs. 1 Price US $ PPP rate Rank Country the USD, % 2 -------- ----------------------- ---------------- ----------------- -----------------------4 China 1.98 3.54 -46.9074 7 Russia 2.34 19.0 -37.2730 14 South Africa 2.67 4.94 -28.5725 22 Singapore 3.27 1.13 -12.5793 24 Britain 3.60 0.61 -3.9824 27 United States 3.73 ----34 Canada 4.09 1.12 9.8793 37 Australia 4.32 1.17 16.2791 40 Brazil 5.10 2.33 36.4009 42 Switzerland 6.70 1.74 79.2706
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Deviation of currencies from their fair value shown on the basis of July 2010 Big Mac prices. How to read this table If a Big Mac costs 3.38 in countries that use the euro and $3.73 in the US, then the implied PPP rate is 3.38/3.73 = 0.91. If the actual exchange rate for the euro is lower that the implied PPP rate, the Big Mac theory suggests that the value of the euro might go up until it reaches the implied PPP rate. If the actual exchange rate is higher, then you might expect the euro to go down until it hits the implied PPP rate. The percentage of under- and over-valuation from the current exchange rate is shown in the table.
5. HUMAN DEVELOPMENT INDEX (HDI)

The Human Development Index ( HDI) is a composite statistic used to rank countries by level of human development, taken as a synonym of the older terms (the standard of living and/or quality of life), and distinguishing very high human development, high human development, medium human development, and low human development countries. HDI was devised and launched by Pakistani economist Mahbub ul Haq, followed by Indian economist Amartya Sen in 1990. The HDI is a comparative measure of life expectancy, literacy, education, and standards of living of a country. It is a standard means of me asuring well-being, especially child welfare. It is also used to distinguish whether the country is a developed, a developing or an under-developed country, and also to measure the impact of economic policies on quality of life. There are also HDI for states, cities, villages, etc. by local organizations or companies which have interest in the matter .
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6. WHOLESALE PRICE INDEX (WPI)

The Wholesale Price Index ( WPI) is the price of a representative basket of wholesale goods. Some countries (like India and The Philippines) use WPI changes as a central measure of inflation. However, United States now report a producer price index instead. The Wholesale Price Index is the price of a representative basket of wholesale goods. Some countries use the changes in this index to measure inflation in their economies, in particular India The Indian WPI figure was earlier released weekly on every Thursday and influenced stock and fixed price markets. The Indian WPI is now updated on a monthly basis. The Wholesale Price Index focuses on the price of goods traded between corporations, rather than goods bought by consumers, which is measured by the Consumer Price Index. The purpose of the WPI is to monitor price movements that reflect supply and demand in industry, manufacturing and construction. This helps in analyzing both macroeconomic and microeconomic conditions.
The wholesale price index (WPI) is based on the wholesale price of a few relevant commodities of over 240 commodities available. The commodities chosen for the calculation are based on their importance in the region and the point of time the WPI is employed. For example in India about 435 items were used for calculating the WPI in base year 1993 - 94 while the advanced base year 2004-05 uses 676 items. The indicator tracks the price movement of each commodity individually. Based on this individual movement, the WPI is determined through the averaging principle
7. CONSUMER PRICE INDEX (CPI)

A consumer price index (CPI) measures changes in the price level of consumer goods and services purchased by households. The CPI in the United States is defined by the Bureau of Labor Statistics as a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. The CPI is a statistical estimate constructed using the prices of a sample of representative items whose prices are collected periodically. Sub-indexes and sub-sub-indexes are computed for different categories and sub-categories of goods and services, being combined to produce the overall index with weights reflecting their shares in the total of the consumer expenditures covered by the index. It is one of several price indices calculated by most national statistical agencies. The annual percentage change in a CPI is used as a measure of inflation. A CPI can be used to index (i.e., adjust for the effect of inflation) the real value of wages, salaries, pensions, for regulating prices and for deflating monetary magnitudes to show changes in real values. In most countries, the CPI is, along with the population census and the USA National Income and Product Accounts, one of the most closely watched national economic statistics.
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global listings and rankings
CREDIT RATINGS, GLOBAL LISTINGS AND RANKINGS MEANING, METHODOLOGY AND IMPACT
Credit Ratings : What is Credit Rating ? Credit Rating is a simple and easy to understand symbolic indicator of the opinion of a credit rating agency about the risk involved in a borrowing programme of an issuer with reference to the capability of the issuer to repay the debt as per terms of the issue. Credit ratings provide an investor with critical information to enable him to take an informed investment decision based on his risk-return preferences. These also help investors to select the appropriate investment opportunities from a large range of options available.
How is it done? : Credit ratings are based on an in-depth study of the industry as also an evaluation of the strengths and weaknesses of the company. The inherent protective factors, marketing strategies, competitive edge, level of technological development, operational efficiency, competence and effectiveness of management, hedging of risks, cash flow, trends and potential, liquidity, financial flexibility, government policies, past record of debt servicing, sensitivity to possible changes in business/economic circumstances are looked into.
Validity of Credit Ratings : Once the company has accepted a rating, ICRA continuously monitors the corporate and the rating is monitored till the life of the instrument. The process is known as surveillance. During the surveillance period, all changes affecting the company are taken into account and the rating, if necessary, is changed, upwards or downwards. In other words, a rating is valid during the life of the instrument. There are many credit rating agencies in different countries. The big three credit rating agencies are Standard & Poors , Moodys Investor Service, and Fitch Ratings. Moodys and S&P each control about 40 percent of the market. Third-ranked Fitch Ratings, which has about a 14 percent market share, sometimes is used as an alternative to one of the other majors. In India we have CRISIL (Credit Rating Information Services of India Limited), ICRA (Investment Information and Credit Rating agency of India), CARE (Credit Analysis & Research Limited), DCR India( Duff and Phelps Credit Rating India Private Limited.) etc.
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1. STANDARD & POORS RANKINGS

Standard & Poors ( S&P) is an American financial services company. It is a division of The McGraw-Hill Companies that publishes financial research and analysis on stocks and bonds. Its head office is located on 55 Water Street in Lower Manhattan, New York City, Americas Commercial Capital. Standard & Poor s typically expresses its opinion of creditworthiness in terms of three components: The long-term rating The outlook on the long-term rating The short-term rating, where applicable Standard & Poors uses AAA, BB, or CC to communicate relative credit risk, with AAA denoting the strongest creditworthiness and C or D denoting the weakest, or that a default has occurred. The rating symbols provide a simple way to communicate opinions about creditworthiness. While a rating scale itself is relatively straightforwardfor example, a bond rated AAA signals higher credit quality than a bond rated BBthe assumptions, considerations, and judgments that help to form a rating opinion are different and complex. This complexity results, in part, from different types of risk factors informing the analysis that range, for example, from a particular issuers financial performance and the competitive environment in which it operates to the structure or details of a particular issue. In addition, the rating process factors in events that may occur in the foreseeable future and are likely to affect the credit risk of a particular issuer or issue. Over time, the overall performance of Standard & Poors ratings has helped to establish its rating scale as a good benchmark of relative credit risk. This in turn, has enabled investors and market participants to use ratings as a benchmark and as a second opinion when performing their own analysis. The general meaning of our credit rating opinions is summarized below. AAAExtremely strong capacity to meet financial commitments. Highest Rating. AAVery strong capacity to meet financial commitments. AStrong capacity to meet financial commitments, but somewhat susceptible to adverse economic conditions and changes in circumstances. BBBAdequate capacity to meet financial commitments, but more subject to adverse economic conditions. BBB-Considered lowest investment grade by market participants. BB+Considered highest speculative grade by market participants. BBLess vulnerable in the near-term but faces major ongoing uncertainties to adverse business, financial and economic conditions. BMore vulnerable to adverse business, financial and economic conditions but currently has the capacity to meet financial commitments. CCCCurrently vulnerable and dependent on favorable business, financial and economic conditions to meet financial commitments. CCCurrently highly vulnerable. CCurrently highly vulnerable obligations and other defined circumstances. DPayment defaults on financial commitments. Note: Ratings from AA to CCC may be modified by the addition of a plus (+) or minus () sign to show relative standing within the major rating categories
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2. MOODYS CORPORATION
Moodys Investors Service , often referred to as Moodys, is the bond credit rating business of Moodys Corporation, representing the companys traditional line of business and its historical name. Moodys Investors Service provides international financial research on bonds issued by commercial and government entities and, with Standard & Poors and Fitch Group, is considered one of the Big Three credit rating agencies. The company ranks the creditworthiness of borrowers using a standardized ratings scale which measures expected investor loss in the event of default. Moodys Investors Service rates debt securities in several market segments related to public and commercial securities in the bond market. These include government, municipal and corporate bonds; managed investments such as money market funds, fixed-income funds and hedge funds; financial institutions including banks and non-bank finance companies; and asset classes in structured finance. [1] In Moodys Investors Services ratings system securities are assigned a rating from Aaa to C, with Aaa being the highest quality and C the lowest quality.
M o o d y 's cre dit ra t in g s In v es t m e n t g ra d e R a t ing L o n g - t erm ra t in g s Aaa R a ted as th e h ig h es t q u a lity an d lo w e st cr ed it ris k . A a1 A a2 R a ted as h ig h q u ality a n d v er y lo w cr ed it r isk . Aa3 A1 A2 R a ted as u p p er- m ed iu m g r ad e an d lo w cr ed it ris k . A3 B aa 1
Sh o r t- t erm ra tin g s Prim e -1 B es t a b ility to rep ay s h o rtte rm d eb t Prim e -1 / P rim e- 2 B es t ab ility o r h ig h a b ility to r ep ay s h o r t ter m d eb t Prim e -2 H ig h ab ility to rep ay s h o r t te rm d eb t Prim e -2 / P rim e- 3 H ig h ab ility o r acc ep tab le ab ility to re p ay sh o rt ter m d eb t Prim e -3 A cce p tab le ab ility to rep ay sh o r t te rm d eb t
B aa 2
R a ted as m ed iu m g r ad e, w ith s o m e sp e cu lativ e elem en ts an d m o d er ate cr ed it r isk .
B aa 3
Sp e cu la t iv e g r a d e R a t ing L o n g - t erm ra t in g s B a1 Ju d g ed to h a v e sp e cu lativ e ele m en ts an d a s ig n ific an t B a2 credit risk. Ba3 B1 B2 Ju d g ed as b ein g s p ecu la tiv e a n d a h ig h cr ed it ris k . B3 Caa1 C aa 2 R a ted as p o o r q u ality a n d v e ry h ig h cr ed it ris k . Caa3 Ju d g ed to b e h ig h ly s p ecu la tiv e a n d w ith lik elih o o d o f Ca b ein g n ear o r in d e fa u lt, b u t s o m e p o ss ib ility o f recovering principal and interest. R a ted a s th e lo w e st q u ality, u su a lly in d e fa u lt an d lo w C lik elih o o d o f r ec o v er in g p rin c ip al o r in ter est.
Sh o r t- t erm ra tin g s
N ot P r i m e D o n o t fa ll w ith in a n y o f th e p rim e ca teg o ries
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3. CRISIL RATINGS
Credit Rating and Information Services of India Ltd. (CRISIL) (BSE: 500092, NSE: CRISIL) is Indias leading Ratings, Research, Risk and Policy Advisory Company based in Mumbai. CRISILs majority shareholder is Standard & Poors, a division of The McGraw-Hill Companies and the worlds foremost provider of financial market intelligence enterprises. CRISIL Businesses Ratings : Indias first, largest, and most prominent credit rating agency Rs. 36 trillion of debt rated Market share in bank loan ratings exceeds 50 per cent Rates two-thirds of bonds outstanding in India Highest number of outstanding SME ratings in India
Global Research and Analytics (Irevna, Pipal research) Largest and top ranked provider of high-end research and analytics to the worlds largest financial institutions and leading global corporations Works with 12 of the top 15 global investment banks Client list includes 30 Fortune 500 companies, across a range of industries
Research : Indias largest independent research house, providing comprehensive research coverage to more than 1200 Indian and global customers Provides coverage on 70 industries 90 per cent of Indias commercial banks are our customers Largest independent equity research house in India Official provider of valuations to all mutual funds in India Helps Employees Provident Fund Organisation (EPFO) select fund managers
CRISIL Risk and Infrastructure Solutions (CRIS)IL Risk and Infrastructure Solutions IS) Offers a wide range of solutions focused on infrastructure policy, corporate advisory, integrated risk management and associated consulting services Serves a variety of clients, including government bodies, multilaterals, banks and infrastructure companies Practical and innovative solutions in 31 countries Client roster includes 50 financial institutions in India and abroad Flagship product, RAM, is Indias leading internal risk rating solution
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4. FORTUNE 500
An annual list of the 500 largest companies in the United States as compiled by FORTUNE magazine. The list is put together using the most recent figures for revenue and includes both public and private companies with publicly available revenue data. Exxon Mobil, Walmart, General Electric and Chevron have vied for the top spots on the list in recent years. To be a Fortune 500 company is widely considered to be a mark of prestige. The collective performance of the Fortune 500 companies may be seen as one indicator of the countrys overall economic performance. For example, in the midst of the 2008 recession, the Fortune 500 companies collective 335% increase in earnings in 2009 was viewed as a possible sign of economic recovery. Companies addition to and subtraction from the list also say something about the overall economy; for example, homebuilders dropped off the list after the housing market bubble burst. The Fortune 500 list is synonymous with great capital gain, significant revenue and expansion. Although these achievements are the benchmark of a typical Fortune 500 company, they are not the only factors. Many companies benefit from advances in new technologies, effective marketing campaigns and strong upper management to find success as a business, and eventually land on the list. The Fortune 500 is a list of the 500 largest companies in America as determined by Fortune magazine. The first Fortune 500 was published in 1955. In 1955 the five largest companies were General Motors, Standard Oil Company now Exxon Mobil, U.S. Steel, General Electric and Esmark. General Motors held the No.1 spot until 1975. Exxon Mobil has been one of the top three companies every year except one. Criteria The Fortune 500 is based on revenues or sales of the companies. The list is the 500 private and public corporations in the United States with the most revenues. Top 20 Fortune 500 companies of 2012
Rank 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Company Exxon Mobil Wal-Mart Stores Chevron ConocoPhillips General Motors General Electric Berkshire Hathaway Fannie Mae Ford Motor Hewlett-Packard AT&T Valero Energy Bank of America Corp. McKesson Verizon Communications J.P . Morgan Chase & Co. Apple CVS Caremark International Business Machines Citigroup
Revenues ($ millions) 452,926.0 446,950.0 245,621.0 237,272.0 150,276.0 147,616.0 143,688.0 137,451.0 136,264.0 127,245.0 126,723.0 125,095.0 115,074.0 112,084.0 110,875.0 110,838.0 108,249.0 107,750.0 106,916.0 102,939.0
Profits ($ millions) 41,060.0 15,699.0 26,895.0 12,436.0 9,190.0 14,151.0 10,254.0 -16,855.0 20,213.0 7,074.0 3,944.0 2,090.0 1,446.0 1,202.0 2,404.0 18,976.0 25,922.0 3,461.0 15,855.0 11,067.0
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Eight Indian companies in Fortune 500 list ! Eight Indian companies have made the cut in the list of world's 500 largest companies compiled by Fortune magazine, with Indian Oil and Reliance Industries finding a place in the top 100. Out of the eight, five are state-run entities. With an annual revenue of USD 86,016 million, Indian Oil has cornered the 83rd spot up from 98th place last year. Mukesh Ambani-led Reliance Industries is the first Indian private firm to made into the top 100 list. With an annual revenue of USD 76,119 million, RIL, has improved its ranking to 99 from previous year's 134. Besides IOC and RIL, the other Indian companies in the list are steel-maker Tata Steel, auto company Tata Motors, oil entities Bharat Petroleum, Hindustan Petroleum and Oil & Natural Gas and public sector bank State Bank of India. The list also features Citigroup, ArcelorMittal, led by people with Indian roots.
Indian Fortune 500 Companies

Annual Ranking in Ranking in Revenue (In USD millions) 2012 2011 83 99 98 134 272 336 292 359 361 370 86,016 76,119 44,582 38,885 36,950 34,575 30,746 27,739
Company Indian Oil Corporation Reliance Industries Hindustan Petroleum State Bank of India Tata Motors ONGC Tata Steel
Bharat Petroleum 225 267 285 314 357 401
Noticeably, all the Indian companies in the Fortune 500 list have improved their rankings in 2012 as compared to 2011 except Tata Steel which has fallen more than 30 places.
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Mergers & aCqUisitions
MERGERS AND ACQUISITIONS

Mergers and acquisitions (abbreviated M&A) refers to the aspect of corporate strategy, corporate finance and management dealing with the buying, selling, dividing and combining of different companies and similar entities that can help an enterprise grow rapidly in its sector or location of origin, or a new field or new location, without creating a subsidiary, other child entity or using a joint venture. Mergers, acquisitions and joint ventures are so loosely used in the business lexicon that it is only natural that there is a high level of confusion. Before suggesting a framework to choose among the three models, it is very important that conceptualizations of these terminologies are clear. The distinction between a merger and an acquisition has become increasingly blurred in various respects (particularly in terms of the ultimate economic outcome), although it has not completely disappeared in all situations. Merger : A merger refers to a process in which two companies become one by coming together. In such a case, no one company rules over the other . Usually the management of both companies shares the control of the resultant company and names of both companies are retained for the resulting companies. There are many high profile examples of mergers AOL Time Warner, GlaxoSmithKline (the second largest pharmaceutical company in the world after Pfizer), Hero Honda (the leading motorcycle brand in India), Sony Ericsson (the third largest manufacturer of mobile phones in the world) and many others. In each of these cases, names of both companies were retained in order to leverage the equity of both brand names. Therefore simply put, mergers create a new organization out of two or more organizations of more or less equal stature, pooling all resources. Acquisition : Acquisitions on the other hand refer to processes in which one company buys the other company. In such a situation the buying company absorbs the bought company into the existing company. Acquisitions can be carried out either to eliminate competition by absorbing the competing company or to expand the corporate portf olio by retaining the acquired company as an independent entity under the overall corporate management. This latter case is at the heart of many conglomerates. News Corp Inc acquired MySpace, the leading online networking site with an estimated 100 million registered users not in order to merge it with the other news businesses, but to expand the corporate portfolio. On the other hand Vodafone Group plc, the worlds largest mobile communications network company with a market capitalization of GBP 86 billion (US$169 billion or 1.16 trillion yuan) acquired a 67% stake in Essar Hutchison (one of Indias leading mobile phone network) for US$19 billion (130 billion yuan). The purpose of this acquisition was to enter the highly lucrative Indian mobile phone market. As is evident from the many examples mentioned before, mergers and acquisitions (M&A) serve three main purposes: M&A can serve as a market entry strategy, as a corporate portfolio expansion tool and as a competitive defense mechanism.
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JOINT VENTURE
Joint Venture is an approach in which two or more companies agree to pool their resources together to form a combined force in the marketplace. Unlike a merger, a joint venture does not involve the emergence of a new combined entity. Each participant in the joint venture retains their individual entity but choose to compete against competitors as a unified business force. Recently, the worlds largest retailer Wal-Mart entered into a joint venture with Indias Bharti Enterprises to get a toe hold in the booming Indian retail market. This move was the only way Wal-Mart could have entered the Indian market as regulatory restrictions prohibit a full owned foreign retail chain to operate in the Indian market. As such, this joint venture was a market entry strategy for Wal-Mart. Consider another example Costa Coffee, the leading coffee brand across the UK and Western Europe. This brand entered the Chinese market recently with a joint venture with the Yueda Group based in Jiangsu Province in China. This was not because of any regulatory restrictions but more because of its need to learn about an alien market and get a foot hold. Therefore joint ventures are indeed a very common entry strategy for companies. This approach has its own pros and cons. The obvious advantage is that companies entering markets through JVs would benefit from the local kno wledge of the local company. The obvious disadvantage is that companies entering new markets may be taken for a ride if joint ventures are not agreed upon carefully. As such, defined simply, Joint Ventures are less risky than acquisitions because they are negotiable, co-operative and easier to walk away from. They bring two firms together with mutual interests but different strengths to work on particular projects that offer benefit to both.
6 important Aspects of Global Mergers & Acquisitions Global Thinking The foremost requirement for a corporate looking to go global, to start with, is to change the old technocrat mindset and think big and global. Companies working in overly competitive environment have to change fast as per the evolving dynamics in their industry of operation Pricing and Valuations Pricing and valuations at which the targeted firm is being taken over is the most crucial decision to be taken while contemplating a global acquisition move. Preferably, both the CEO and the CFO of the company need to figure out the net cost-benefit analysis involved in acquiring an overseas company. Abiding Local Laws An overseas company targeted to be acquired is governed by specific local laws and policies. Different countries are governed by diverse set of jurisdiction processes. It could be in the form of local land acquisition laws or even local labour laws with different set of trade union rules. Take the case of Tata Steels acquisition of UKs Corus, where the initial strains have begun to show through labour issues and could likely result in labour strikes on account of Tata Steels decision to mothball its Teesside unit in northeastern England. Flexible Decisions & Adaptability to Change Companies have to ensure that their business decisions and mandates are flexible and adaptable to change in the overseas markets. A product which is an instant hit domestically need not necessarily be as much viable in a foreign market.
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Take the case of same company Bharti Airtel. The telecom company played well its cards related to low-cost, high-volume game in the growing markets of India. In fact, it got a firm foothold through this strategy as Indias premier telecom operator. Diverse Tactics of Marketing An acquisition abroad is like marrying with an entity with distinct features and characteristics altogether, even though the new entity becomes a p art of ones own company post-takeover. While on the marketing front, it could entail relating to diverse tastes of consumers situated in the destination country. It could be more sensible to hire employees from local state who are more acquainted of the local environment conditions and trend dynamics. Employing local people would attract less stiffness from local people on issues related to employment concerns. Higher level top executives, preferably even on the board seats, would act as an added boost for an able aid to top management in working the local business strategies for the company. Serving the Social Causes of Local Destination A foremost rule that drives any top class comp any is to serve the social causes of the society. Whatever you give, comes back goes the saying. A responsible and accountable company would be better-off to part away with some portion of its earnings as a give-back to the local country and its people.
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TOP 10 BUSINESS MERGERS/ACQUISITIONS OF THE DECADE

2000-2009 saw some of the biggest mergers and acquisitions in history with all fields and industry bigwigs vying for one another in an attempt at global domination. It was a telling decade however as some mergers that sounded amazing on paper , consequently became a poor business decision costing millions and billions of perceived profit for both companies involved.
AMERICA ONLINE INC (AOL) AND TIME WARNER

The beginning of the decade saw one of the biggest deals (on paper) ever between AOL and Time Warner . AOL, the dial-up provider that introduced America to the world wide web, announced its takeover of Time Warner in a $164billion deal. In the deal of the millennium AOL Time Warner aimed to become the worlds largest media company combining AOLs online services with Time Warners vast media and cable assets. The dreams of Steve Case and Jerry Levin, AOL and Time Warner s chief executives at the time however fell apart not just with the bursting of the dotcom bubble in internet valuations. The deal was ultimately undone by flaws in its premise and holes in AOLs business model. AOLs lock on providing internet services in the dial-up world disappeared in the new world of broadband connections. Financial Times Indeed problems arose from petty culture clashes, which saw Time Warner employees resist adopting AOL e-mail addresses, to the fact that Time Warner had simply overvalued the AOL stock it sold out for. AOL may have jumped the gun too early and should have taken notes from COMCASTs books who later in the decade acquired a range of smaller deals with Microsoft, MGM and AT&T Broadband.
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PFIZER INC AND PHARMACIA CORPORATION
Just as we thought the start of the millennium saw its biggest deal in the pharmaceutical industry between Glaxo Wellcome PLC & Smith Kline Beecham PLC (GlaxoSmithKline), we were to be taken aback by what turned out to be an even bigger and better merger. In 2003 Pfizer officially announced the acquisition of Pharmacia Corporation for $55 billion in an improved attempt to expand its product base and develop new medicines. Together they forged one of the worlds fastest growing and most valuable companies. Today Pfizer is the worlds leading research-based pharmaceutical company.
On any given day, we estimate that nearly 40 million people around the world are treated with a Pfizer medicine. Our new company is the global leader in discovering, developing and delivering innovative medicines and health care solutions essential to improving global public health and addressing unmet medical needs . - Pfizer Chairman and Chief Executive Officer Hank McKinnell
ROYAL DUCTH PETROLEUM CORP . AND SHELL TRANSPORT AND TRADING CO
For 100 years Shell had dual ownership, with the firm being 60% owned by Royal Dutch Petroleum and 40% owned by Shell Transport & Trading . This was up until the middle of the decade when both companies merged into Royal Dutch Shell. The company had called on investors to usher in an era of one company, one board and one chief executive. After the merger took place, Shell found profits rising and became one of the six supermajors (vertically integrated private sector oil exploration, natural gas, and petroleum product marketing companies) along with Chevron and ExxonMobil who themselves were subject of a supermerger. Shell now operates in 140 countries, is on the FTSE 100 and in 2009 was listed as the worlds largest corporation for 2009 by Fortune and worlds second largest corporation by Forbes worth around $500billion
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CHASE MANHATTAN AND JP MORGAN

The end of 2000 saw a rise in financial services mergers as the industry took advantage of the dismantling of the Depression-era Glass-Steagall laws a year earlier that had kept banking, insurance, and securities businesses separate - Financial Times With Chase Manhattans acquisition of JP Morgan, the newly formed JP Morgan Chase partly owned by John D Rockerfeller serves millions of consumers in the United States and many of the worlds most prominent corporate, institutional and governmental clients
It is a leader in financial services with assets of $2 trillion, and the largest market capitalization as well as the second largest U.S Hedge fund. The JPMorgan brand is used by the Investment Bank as well as the Asset Management, Private Banking, Private Wealth Management, and Treasury & Securities Services divisions. Fiduciary activity within Private Banking and Private Wealth Management is done under the aegis of JPMorgan Chase Bank, N.A, the actual trustee. After acquiring Bank One, Chase became the largest credit card issuer in the US, is also tying deals with Canada.
E.ON & POWERGEN

Utilities and energy took centre-stage. Under pressure from the European Commission for more liberalisation and integration of national markets, and with competition between countries for scarce energy resources intensifying, the European Unions energy market spent the next few years consolidating . Financial Times Cue January 2002 when German energy corporation E.ON fully acquired UK based company Powergen . This was actually a move recommended by the Powergen Board who knew that a merger would enhance the companys competitive position in the long run. With Powergens experience and expertise in international asset management, deregulation, environmental management and reporting, E.ON would be able to achieve its aim of leadership across the European energy market. It was a fine example of two companies combining the strength in buying power and strategic knowledge. (Something Hewlett Packard and Comp aq were able to do when they merged in the same year) E.ON has become the worlds largest privately-owned electricity and gas company
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INBEV INC AND ANHEUSER-BUSCH COMPANIES INC

Some were sceptical with the alliance of Superbrands merging but when the profit prospects were made clear, Inbevs $52billion dollar acquisition of Anheuser-Busch was inevitable. The deal officially made the company the worlds largest brewer, uniting the maker of Budweiser and Michelob with the producer of Stella Artois, Bass and Brahma. Together, the two companies will have sales of more than $36 billion a year, surpassing the current No. 1 brewer, SABMiller of London.
The combined company was named Anheuser-Busch InBev (or ABI), fulfilling a promise by the Belgian company to include the Anheuser name in the new brewer s title. With a 25% global market share ABI employs 120,000 in over 30 countries. The growth has been one for all entrepreneurs to admire with Interbew buying South-American firm Ambev only four years earlier to form Inbev. Another sign of a European vying for maximum profit.
HSBC & HOUSEHOLD INTERNATIONAL
Welcome to another episode of When Business Mergers/Acquisitions go wrong In 2003 the dotcom crash had given way to an explosion in lending and an unprecedented property price boom. HSBC were well on their way to becoming the worlds largest banking group; with business booming bosses at the bank decided to chase a slice of the booming US property Market. HSBC acquired US lender, Household International; the idea was that the deal would enable Household to borrow more cheaply because of HSBCs higher credit rating, leading to wider margins on loans to customers. A little research however would have revealed how unpopular Household was with many of its customers at the time. Household was a poor fit with HSBCs operations as much of its business was in second-line mortgages, known in the US as piggyback loans, marketed to low-income homeowners who used the cash to buy anything from cars to conservatories The Guardian With 50 million U.S. clients, many with spotty credit histories; losses were at an all-time high with recent reports showing that Household had lost the bank $30bn since 2006. Indeed the newly named HSBC Finance Corporation is ending its lending deal as of last year.
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BANK OF AMERICA & MERRIL LYNCH

The latter part of the decade saw bankruptcies from leading banks (Lehman Brothers). As they struggled to issue debt, several emergency rescue mergers were struck. In the UK Lloyds TSB took over HBOS for $21.9bn but the biggest take over at the time took place in the US when Bank of America saved Merril Lynch . In 2008 Bank of America acquired Merril Lynch for $50bn making them the largest financial services company in the world. With 20,000 stockbrokers worldwide and $2.5 trillion in client assets it is the worlds largest brokerag e. Merrill Lynch both enhances current strengths at Bank of America and creates new ones, particularly outside of the United States.
Merrill Lynch adds strengths in global debt underwriting, global equities and global merger and acquisition advice. After the acquisition, Bank of America would be the number one underwriter of global high yield debt, the third largest underwriter of global equity and the ninth largest adviser on global mergers and acquisitions. The company provides unmatched convenience in the United States, serving more than 59 million consumer and small business relationships with more than 6,100 retail banking offices, more than 18,500 ATMs and award-winning online banking with more than 25 million active users. Bank of America offers industry leading support to more than 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients in more than 150 countries and has relationships with 99 percent of the U.S. Fortune 500 companies and 83 percent of the Fortune Global 500 " Bank Of America
EBAY& PAYPAL
Sometimes the best way to stomp out competition is to buy the competition. In 2002 Ebay stopped using its own Billpoint payment system and acquired PayPal for $1.5bn. PayPal who allow consumers to purchase goods online without a credit card, had most of its profit via Ebay auctions prior to this so the merger was inevitable. The PayPal acquisition helped both customers and the companys bottom line by speeding up the payment process. Buyers and sellers complete transactions days faster using electronic payments. PayPal is the gorilla in the online payment market, as eBay is the gorilla in the online auction market, Merrill Lynch analyst Justin Baldauf Now both companies sit on higher profit from a relatively cheap (ish) takeover. Something that Walt Disney and Marvel will try to emulate.
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ADIDAS & REEBOK

Though Adidas had global dominance (especially in Europe and Asia) it was actually Reebok who profited more in the North American Market; however they were still well away from the power of Nike . Then in 2006 Adidas announced a $3.8bn acquisition involving the worlds second- and third-biggest sports goods companies. It was a move encouraged by all as Nike further stake their claim as the number one sports shoemaker and leading sports brand in Hip-Hop Culture. With Nike partnering with designers and record labels for special-edition sneakers and acquiring Converse in 2005 it was imperative for Adidas and Reebok to get themselves involved in young culture to catch up.
Reebok and Adidas have been targeting NBA players and hip-hop artists for endorsements and product identity co-branding. Adidas has a successful line of shoes and apparel going with singer Missy Elliott, while Reeboks lines built around rap stars Jay-Z and 50-Cent are outselling shoe lines developed around its National Basketball Assn. stars. They do however strike an advantage by reaching out to the older market with Adidas concentrating on upper-end performance shoes, while Reebok covers the middle-priced market.
HERE ARE THE TOP 10 ACQUISITIONS MADE BY INDIAN COMPANIES WORLDWIDE
Acquirer Tata Steel Hindalco Videocon Dr. Reddys Labs Suzlon Energy HPCL
Target Company Corus Group plc Novelis Daewoo Electronics Corp. Betapharm Hansen Group Kenya Petroleum Refinery Ltd.
Country targeted UK Canada Korea Germany Belgium Kenya
Deal value ($ ml) 12,000 5,982 729 597 565 500 Steel Steel
Industry
Electronics Pharmaceutical Energy Oil and Gas
Ranbaxy Labs Tata Steel Videocon VSNL
Terapia SA Natsteel Thomson SA Teleglobe
Romania Singapore France Canada
324 293 290 239
Pharmaceutical Steel Electronics Telecom
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TOP 10 INDIAN MERGERS AND ACQUISITIONS IN 2011!
R
The Reliance BP deal The much talked about Reliance BP deal finally came through in July 2011 after a 5 month wait. Reliance Industries signed a 7.2 billion dollar deal with UK energy giant BP , with 30 percent stake in 21 oil and gas blocks operated in India. Although the Indian governments approval on two oil blocks still remains pending, this still makes it one of the biggest FDI deals to come through in India Inc in 2011-12
Essar exits Vodafone In March 2011, the Vodafone Group announced that it would buy 33 percent stake in its Indian joint venture for about 5 billion dollars after the Essar Group sold its holding and exited Vodafone. Healthcare giant Piramal Group too, bought about 5.5 percent in the Indian arm of Vodafone for about 640 million dollars. This brings Vodafones current stake to about 75 percent.
The Fortis Healthcare merger In September 2011, Indias second largest hospital chain, Fortis Healthcare (India) Ltd, announced that it will merge with Fortis Healthcare International Pte Ltd., the promoters privately held company. This will make Fortis Asias top healthcare provider with the approximate total revenue pegged at Rs. 4,800 crore. Fortis India will buy the entire stake of the Singapore based Fortis International. This company is currently held by the Delhi-based Singh brothers (Malvinder Singh and Shivinder Singh).
iGate acquires majority stake in Patni Computers In May 2011, IT firm iGate completed its acquisition of its midsized rival Patni Computers for an estimated 1.2 billion dollars. For iGate, the main aim of this acquisition was to increase its revenue, vertical capability and customer base. iGate now holds an approximate stake of 82.5 percent in Patni computers, now called iGate Patni.
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GVK Power acquires Hancock Coal In one of the biggest overseas acquisitions initiated by India in September 2011, Hyderabadbased GVK Power bought out Australias Hancock Coal for about 1.26 billion dollars. The acquisition includes a majority of the coal resources, railway line and port infrastructure of Hancock Coal, along with the option for long term coal supply contracts.
Essar Energys Stanlow Refinery Deal with Royal Dutch Shell The Ruias flagship company for its oil business, Essar Energy completed its 350 million dollar acquisition of the UK based Stanlow Refinery of Shell in August 2011. In addition to a direct access to the UK market, Essar is planning to make optimum utilization of this deal with its 100 day plan to improve operations at the UK unit.
Aditya Birla Group to acquire Columbian Chemicals In June 2011, the Aditya Birla Group announced its completion of acquiring US based Columbian Chemicals, a 100 year old carbon black maker company for an estimated 875 million dollars. This will make the Aditya Birla Group one of the largest carbon black maker companies in the world, doubling its production capacity instantly.
Mahindra & Mahindra acquires Ssangyong In March 2011, Mahindra acquired a 70 percent stake in ailing South Korean auto maker Ssangyong Motor Company Limited (SYMC) at a total of 463 million dollars. This acquisition will see the Korean companys flagship SUV models, the Rexton II and the Korando C foray into the Indian market.
The Vedanta Cairn acquisition December 2011 finally saw the completion of the much talked about Vedanta Cairn deal that was in the pipeline for more than 16 months. Touted to be the biggest deal for Indian energy sector, Vedanta acquired Cairn India for a neat 8.6 billion dollars. Although the Home Ministry cleared the deal, it has highlighted areas of concern with 64 legal proceedings against Vedanta.
Adani Enterprises takes over Abbot Point Coal In June 2011, Adani acquired the Australian Abbot Point Port for 1.9 billion dollars. With this deal, the revenues from port operations are expected to almost triple from 110 million Australian dollars to 305 million Australian dollars in 2011. According to Adani, this was amongst the largest port deals ever made.
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TOP 10 MERGERS & ACQUISITIONS IN INDIA FOR 2010

Tata Chemicals buys British salt Tata Chemicals bought British Salt; a UK based white salt producing company for about US $ 13 billion. The acquisition gives Tata access to very strong brine supplies and also access to British Salts facilities as it produces about 800,000 tons of pure white salt every year Reliance Power and Reliance Natural Resources merger This deal was valued at US $11 billion and turned out to be one of the biggest deals of the year. It eased out the path for Reliance power to get natural gas for its power projects Airtels acquisition of Zain in Africa
Airtel acquired Zain at about US $ 10.7 billion to become the third biggest telecom major in the world. Since Zain is one of the biggest players in Africa covering over 15 countries, Airtels acquisition gave it the opportunity to establish its base in one of the most important markets in the coming decade Abbotts acquisition of Piramal healthcare solutions Abbott acquired Piramal healthcare solutions at US $ 3.72 billion which was 9 times its sales. Though the valuation of this deal made Piramals take this move, Abbott benefited greatly by moving to leadership position in the Indian market GTL Infrastructure acquisition of Aircel towers This acquisition was worth about US $ 1.8 billion and brought GTL Infrastructure to the third position in terms of number of mobile towers 33000. The money generated gave Aircel the funds for expansion throughout the country and also for rolling out its 3G services ICICI Bank buys Bank of Rajasthan This merger between the two for a price of Rs 3000 cr would help ICICI improve its market share in northern as well as western India JSW and Ispat Ki Kahani Jindal Steel Works acquired 41% stake at Rs 2,157 cr in Ispat Industries to make it the largest steel producer in the country. This move would also help Ispat return to profitability with time Reckitt Benckiser goes shopping Reckitt acquired Paras Pharma at a price of US $ 726 million to basically strengthen its healthcare business in the country. This was Reckitts move to establish itself as a strong consumer healthcare player in the fast growing Indian market Mahindra goes international Mahindra acquired a 70% controlling stake in troubled South Korea auto major Ssang Yong at US $ 463 million. Along with the edge it would give Mahindra in terms of the R & D capabilities, this deal would also help them utilise the 98 country strong dealer network of Ssang Yong
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Fortis Healthcare acquisitions Fortis Healthcare, the unlisted company owned by Malvinder and Shivinder Singh looks set to make it two in two in terms of acquisitions. After acquiring Hong Kongs Quality Healthcare Asia Ltd for around Rs 882 cr, they are planning on acquiring Dental Corp, the largest dental services provider in Australia at Rs 450 cr.
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Cross CUltUral inforMation Major CoUntries and CUltUres
ETIQUETTE, CUSTOMS AND PROTOCOL
Understanding international business customs and etiquette is vital for business and interacting with clients from other countries appropriately. Successful international business deals, negotiations and forging strong international business relationships thrive on a deep understanding of international business conduct, etiquette, customs and protocol. Etiquette, manners, and cross cultural communication have become critical elements required for international business executives, managers, and employees. As international business continues to expand, the most important element of successful business outcomes lies in the respect for regional, country, and cultural differences.
However, no matter where you do business, always observe punctuality it is the height of respect for your host in any country and learn to pronounce names, and remember them. Get a native speaker to help you if youre unsure. And when you find yourself lost, a polite smile will get you through any unfamiliar situation.
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INDIA
Facts and Statistics Location: Southern Asia, bordering Bangladesh 4,053 km, Bhutan 605 km, Burma 1,463 km, China 3,380 km, Nepal 1,690 km, Pakistan 2,912 km Capital: New Delhi Commercial Capital : Mumbai Currency: Indian Rupees Climate: Varies from tropical monsoon in south to temperate in north Population: 1,241,491,960 (2011) Ethnic Make-up: Indo-Aryan 72%, Dravidian 25%, Mongoloid and other 3% (2000) Religions: Hindu 81.3%, Muslim 12%, Christian 2.3%, Sikh 1.9%, other groups including Buddhist, Jain, Parsi 2.5% (2000) Government: Federal Republic Languages in India: The different states of India have different official languages, some of them are not recognized by the central government. Central government decided that Hindi was to be the official language of India and therefore it also has the status of official language in the states.
Dress Etiquette Business attire is conservative. Men should wear dark coloured conservative business suits. Women should dress conservatively in suits or dresses. The weather often determines clothing. In the hotter parts of the country, dress is less formal, although dressing as suggested above for the first meeting will indicate respect.
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Greeting Etiquette Religion, education and social class all influence greetings in India. This is a hierarchical culture, so greet the eldest or most senior person first. When leaving a group, each person must be bid farewell individually. Shaking hands is common, especially in the large cities among the more educated who are accustomed to dealing with westerners. Men may shake hands with other men and women may shake hands with other women; however there are seldom handshakes between men and women because of religious beliefs. If you are uncertain, wait for them to extend their hand.
Table manners are somewhat formal, but this formality is tempered by the religious beliefs of the various groups. Much Indian food is eaten with the fingers. Wait to be told where to sit. Guests are often served in a particular order: the guest of honour is served first, followed by the men, and the children are served last. Women typically serve the men and eat later. You may be asked to wash your hands before and after sitting down to a meal. Always use your right hand to eat, whether you are using utensils or your fingers. Leaving a small amount of food on your plate indicat es that you are satisfied. Finishing all your food means that you are still hungry.
Business Etiquette and Protocol in India Business Meeting Etiquette If you will be travelling to India from abroad, it is advisable to make appointments by letter, at least one month and preferably two months in advance. It is a good idea to confirm your appointment as they do get cancelled at short notice. The best time for a meeting is late morning or early afternoon. Reconfirm your meeting the week before and call again that morning, since it is common for meetings to be cancelled at the last minute. Keep your schedule flexible so that it can be adjusted for last minute rescheduling of meetings. You should arrive at meetings on time since Indians are impressed with punctuality. Meetings will start with a great deal of getting-to- know-you talk. In fact, it is quite possible that no business will be discussed at the first meeting. Always send a detailed agenda in advance. Send back-up materials and charts and other data as well. This allows everyone to review and become comfortable with the material prior to the meeting. Follow up a meeting with an overview of what was discussed and the next steps.
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Business Negotiating Indians are non-confrontational. It is rare for them to overtly disagree, although this is beginning to change in the managerial ranks. Decisions are reached by the person with the most authority. Decision making is a slow process. If you lose your temper you lose face and prove you are unworthy of respect and trust. Delays are to be expected, especially when dealing with the government. Most Indians expect concessions in both price and terms. It is acceptable to expect concessions in return for those you grant. Never appear overly legalistic during negotiations. In general, Indians do not trust the legal system and someones word is sufficient to reach an agreement. Do not disagree publicly with members of your negotiating team. Successful negotiations are often celebrated by a meal.
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CHINA
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Facts and Statistics Location: Eastern Asia Capital: Beijing Climate: Extremely diverse; tropical in south to subarctic in north Population: 1,298,847,624 (July 2004 est.) Ethnic Make-up: Han Chinese 91.9%, Zhuang, Uygur, Hui, Yi, Tibetan, Miao, Manchu, Mongol, Buyi, Korean, and other nationalities 8.1% Religions: Daoist (Taoist), Buddhist, Muslim 1%-2%, Christian 3%-4% Government: Communist state Currency - The currency of China is the Yuan. The Chinese Language: Chinese is a family of closely-related but mutually unintelligible languages. These languages are popularly called as Manadarin or Cantonese. Collectivism vs. Individualism In general, the Chinese are a collective society with a need for group affiliation, whether to their family, school, work group, or country. In order to maintain a sense of harmony, they will act with decorum at all times and will not do anything to cause someone else public embarrassment. They are willing to subjugate their own feelings for the good of the group. This is often observed by the use of silence in very structured meetings. If someone disagrees with what another person says, rather than disagree publicly, the person will remain quiet. This gives face to the other person, while speaking up would make both parties lose face.
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Non-Verbal Communication The Chinese Non-verbal communication speaks volumes. Since the Chinese strive for harmony and are group dependent, they rely on facial expression, tone of voice and posture to tell them what someone feels. Frowning while someone is speaking is interpreted as a sign of disagreement. Therefore, most Chinese maintain an impassive expression while speaking. It is considered disrespectful to stare into another persons eyes. In crowded situations the Chinese avoid eye contact to give themselves privacy.
What to Wear? Business attire is conservative and unpretentious. Men should wear dark coloured, conservative business suits. Women should wear flat shoes or shoes with very low heels. Bright colours should be avoided.
Women should wear conservative business suits or dresses with a high neckline.
Meeting Etiquette Greetings are formal and the oldest person is always greeted first. Handshakes are the most common form of greeting with foreigners. Many Chinese will look towards the ground when greeting someone. Address the person by an honorific title and their surname. If they want to move to a first- name basis, they will advise you which name to use. The Chinese have a terrific sense of humour. They can laugh at themselves most readily if they have a comfortable relationship with the other person. Be ready to laugh at yourself given the proper circumstances.
Business Meeting Etiquette Appointments are necessary and, if possible, should be made between one-to-two months in advance, preferably in writing. You should arrive at meetings on time or slightly early. The Chinese view punctuality as a virtue. Arriving late is an insult and could negatively affect your relationship Pay great attention to the agenda as each Chinese participant has his or her own agenda that they will attempt to introduce. Send an agenda before the meeting so your Chinese colleagues have the chance to meet with any technical experts prior to the meeting. Discuss the agenda with your translator/ intermediary prior to submission. Meetings require patience. Mobile phones ring frequently and conversations tend to be boisterous. Never ask the Chinese to turn off their mobile phones as this causes you both to lose face. It is imperative that you bring your own in terpreter, especially if you plan to discuss legal or extremely technical concepts as you can brief the interpreter prior to the meeting. Presentations should be detailed and factual and focus on long-term benefits. Be prepared for the presentation to be a challenge.
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KENYA
Facts and Statistics Location: Eastern Africa, bordering the Indian Ocean, between Somalia and Tanzania. Capital: Nairobi. Climate: Varies from tropical along coast to arid in interior. Population: 36,913,721 (estimated - July 2007.) Ethnic Make-up: Kikuyu 22%, Luhya 14%, Luo 13%, Kalenjin 12%, Kamba 11%, Kisii 6%, Meru 6%, other African 15%, non-African (Asian, European, and Arab) 1%. Religions: Protestant 45%, Roman Catholic 33%, Muslim 10%, indigenous beliefs 10%, other 2%. Government: republic Currency - The currency is known as the Shilling (KES). The Language: Kenya is a multilingual country. Although the official languages are Swahili and English, there are actually a total of 62 languages spoken in the country. These mainly consist of tribal African languages as well as a minority of Middle-Eastern and Asian languages spoken by descendants of foreign settlers (i.e. Arabic, Hindi, etc). Kenyan Society and Culture The Kenyan People Kenya is not a homogenous country ethnicity wise. The make-up of Kenyans is primarily that of 13 ethnic groups with an additional 27 smaller groups. The majority of Kenyans belong to Bantu tribes such as the Kikuyu, Luhya and Kamba. There are also the Nilotic tribes such as the Luo, Kalenjin, Maasai and Turkana. The Hamitic people include the Turkana, Rendille and Samburu. Around 13% of the population are of non-African descent, i.e. Indian, Arab and European.
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Meeting and Greeting
The most common greeting is the handshake. When greeting someone with whom you have a personal relationship, the handshake is more prolonged than the one given to a casual acquaintance. Close female friends may hug and kiss once on each cheek instead of shaking hands. When greeting an elder or someone of higher status, grasp the right wrist with the left hand while shaking hands to demonstrate respect. Muslim men/women do not always shake hands with women/men. The most common greeting is Jambo? (How are you?), which is generally said immediately prior to the handshake.
After the handshake it is the norm to ask questions about the health, their family, business and anything else you know about the person. To skip or rush this element in the greeting process is the height of poor manners. People are generally addressed by their academic, professional or honorific title followed by their surname. Once a personal relationship has developed, you may be able to address a person by their title and first name, first name alone, or nickname. Wait for the Kenyan to determine that your friendship has reached this level of intimacy.
Women over the age of 21 are often addressed as Mama and men over the age of 35 are often addressed as Mzee. Children generally refer to adults as Aunt or Uncle, even if there is not a familial relationship.
Business Meetings Meeting schedules may be structured or not at all depending upon the ownership of the company. In British or Indian owned companies, agendas will be used and followed. As relationships are important in Kenya, devote time to small talk in order to get to know your hosts and vice-versa. It is a good idea to allow your Kenyan hosts determine when it is time to begin the business discussion. Meetings seldom have scheduled ending times since what matters is finishing the meeting in a satisfactory manner to all concerned. In fact, Kenyans are amused at the concept of an ending time, since they believe the meeting only ends when all parties are finished. Kenyans value tradition. Therefore, it is a good idea to provide a historical framework or context when attempting to introduce a new ide a or process. They may ask questions until they feel comfortable and are able to proceed satisfactorily.
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SAUDI ARABIA
Facts and Statistics Location: The Middle East, bordering Iraq 814 km, Jordan 744 km, Kuwait 222 km, Oman 676 km, Qatar 60 km, UAE 457 km, Yemen 1,458 km Capital: Riyadh Climate: Harsh, dry desert with great temperature extremes Population: 25,795,938 including 5,576,076 non-nationals (July 2004 est.) Ethnic Make-up: Arab 90%, Afro-Asian 10% Religions: Muslim 100% Government: Monarchy Currency: The Currency of Saudi Arabia is known as the Riyal Language in Saudi Arabia Arabic is the official language of Saudi Arabia, but English is widely spoken. It is used in business and is a compulsory second language in schools. Saudi Society & Culture Islam Islam is practised by all Saudis and governs their personal, political, economic and legal lives. Islam was born in Saudi Arabia and thus is visited by millions of Muslims every year. The Prophet Muhammad is seen as the last of Gods emissaries (following in the footsteps of Jesus, Moses, Abraham, etc) to bring revelation to mankind. As Moses brought the Torah and Jesus the Bible, Muhammad brought the last book, the Quran. The Quran and the actions of the Prophet (the Sunnah) are used as the basis for all guidance in the religion.
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Among certain obligations for Muslims are to pray five times a day - at dawn, noon, afternoon, sunset, and evening. The exact time is listed in the local newspaper each day. Friday is the Muslim holy day. Everything is closed. Many companies also close on Thursday, making the weekend Thursday and Friday. During the holy month of Ramadan all Muslims must fast from dawn to dusk and are only permitted to work six hours per day. Fasting includes no eating, drinking, cigarette smoking, or gum chewing. Expatriates are not required to fast; however, they must not eat, drink, smoke, or chew gum in public. Dress Etiquette
Most Saudis wear long white thobes. You would be expected to wear a suit. Dress well if you want to make a good impression. Business women should make certain that their collarbones and knees are covered and that their clothes are not form-fitting.
Meeting Etiquette Men shake hands. Good friends may greet each other with a handshake and a kiss on each cheek. Women generally hug and kiss close friends. Men and women would not greet each other in public anyone from outside the family. When Saudis greet each other they take their time and converse about general things. Table manners If the meal is on the floor, sit cross-legged or kneel on one knee. Eat only with the right hand as the left is considered unclean. Try a bit of everything that is served. Meals are generally served family-style. Honoured guests are often offered the most prized pieces such as a sheeps head so be prepared! There is often more food than you can eat. Part of Saudi hospitality and generosity is to shower guests with abundance. There is little conversation during meals so that diners may relish the food. Business Meeting Etiquette Appointments are necessary and should be made several weeks to one month in advance if at all possible. When meeting with government officials, a firm date will not be settled upon until you are physically in the country. Try to schedule meetings in the morning. You should arrive at meetings on time, although it is an accepted custom to keep foreigners waiting. It is not uncommon to have a meeting cancelled once you arrive. Business meetings start after prolonged inquiries about health, family, etc. Never inquire about a Saudis wife.
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UK
Facts and Statistics Location: Western Europe, islands including the northern one-sixth of the island of Ireland between the North Atlantic Ocean and the North Sea, northwest of France Capital: London Climate: Temperate; moderated by prevailing southwest winds over the North Atlantic Current; more than one-half of the days are overcast Population: 60,776,238 (July 2007 est.) Ethnic Make-up: White (of which English 83.6%, Scottish 8.6%, Welsh 4.9%, Northern Irish 2.9%) 92.1%, black 2%, Indian 1.8%, Pakistani 1.3%, mixed 1.2%, other 1.6% (2001 census) Religions: Christian (Anglican, Roman Catholic, Presbyterian, Methodist) 71.6%, Muslim 2.7%, Hindu 1%, other 1.6%, unspecified or none 23.1% (2001 census) Government: Constitutional monarchy Currency: The currency of UK (also known as Great Britain) is Great British Pound Language in the UK The United Kingdom does not have a constitutionally defined official language. English is the main language (being spoken monolingually by more than 70% of the UK population) and is thus the de facto official language. British Society, People and Culture The United Kingdom The United Kingdom is comprised of four countries: England, Scotland, Wales, and Northern Ireland. It is important not only to be aware of these geographical distinctions, but also the strong sense of identity and nationalism felt by the populations of these four nations.
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Meeting and Greeting The handshake is the common form of greeting; there are no issues over gender in the UK. The British might seem a little stiff and formal at first. Avoid prolonged eye contact as it makes people feel uncomfortable. There is still some protocol to follow when introducing people in a business or more formal social situation. This is often a class distinction, with the upper class holding on to the long-standing traditions: Introduce a younger person to an older person. Introduce a person of lower status to a person of higher status. When two people are of similar age and rank, introduce the one you know better to the other person.
Business Meetings If you plan to use an agenda, be sure to forward it to your British colleagues in sufficient time for them to review it and recommend any changes. Punctuality is important in business situations. In most cases, the people you are meeting will be on time. How meetings are conducted is often determined by the composition of people attending: If everyone is at the same level, there is generally a free flow of ideas and opinions. If there is a senior ranking person in the room, that person will do most of the speaking. In general, meetings will be rather formal: Meetings always have a clearly defined purpose, which may include an agenda. There will be a brief amount of small talk befo re getting down to the business at hand. If you make a presentation, avoid making exaggerated claims. Make certain your presentation and any materials provided appear professional and well thought out. Be prepared to back up your claims with facts and figures. The British rely on facts, rather than emotions, to make decisions. Maintain eye contact and a few feet of personal space. After a meeting, send a letter summarizing what was decided and the next steps to be taken.
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GERMANY
Facts and Statistics Location: Central Europe, bordering Austria 784 km, Belgium 167 km, Czech Republic 646 km, Denmark 68 km, France 451 km, Luxembourg 138 km, Netherlands 577 km, Poland 456 km, Switzerland 334 km Capital: Berlin Climate: temperate and marine; cool, cloudy, wet winters and summers; occasional warm mountain (foehn) wind Population: 82,424,609 (July 2004 est.) Ethnic Make-up: German 91.5%, Turkish 2.4%, other 6.1% (made up largely of Greek, Italian, Polish, Russian, Serbo-Croatian, Spanish) Religions: Protestant 34%, Roman Catholic 34%, Muslim 3.7%, unaffiliated or other 28.3% Government: federal republic Currency: The currency of Germany is the Euro. Languages in Germany The official language of Germany is German, with over 95% of the population speaking German as their first language. Dress Etiquette
Business dress is understated, formal and conservative. Men should wear dark coloured, conservative business suits.
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Women should wear either business suits or conservative dresses. Do not wear ostentatious jewellery or accessories.
Meeting Etiquette
Greetings are formal. A quick, firm handshake is the traditional greeting. Titles are very important and denote respect. Use a persons title and their surname until invited to use their first name. You should say Herr or Frau and the persons title and their surname. In general, wait for your host or hostess to introduce you to a group. When entering a room, shake hands with everyone individually, including children.
Table manners
Remain standing until invited to sit down. You may be shown to a particular seat. Table manners are Continental the fork is held in the left hand and the knife in the right while eating. Do not begin eating until the hostess starts or someone says guten appetit (good appetite). At a large dinner party, wait for the hostess to place her napkin in her lap before doing so yourself. Do not rest your elbows on the table. Do not cut lettuce in a salad. Fold it using your knife and fork. Cut as much of your food with your fork as possible, since this compliments the cook by indicating the food is tender. Finish everything on your plate. Rolls should be broken apart by hand. Indicate you have finished eating by laying your knife and fork parallel across the right side of your plate, with the fork over the knife. The host gives the first toast. An honoured guest should return the toast later in the meal. The most common toast with wine is Zum Wohl! (good health). The most common toast with beer is Prost! (good health).
Business Meeting Etiquette
Appointments are mandatory and should be made 1 to 2 weeks in advance. Letters should be addressed to the top person in the functional area, including the persons name as well as their proper business title. If you write to schedule an appointment, the letter should be written in German. Punctuality is taken extremely seriously. If you expect to be delayed, telephone immediately and offer an explanation. It is extremely rude to cancel a meeting at the last minute and it could jeopardize your business relationship. Meetings are generally formal.
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Initial meetings are used to get to know each other. They allow your German colleagues to determine if you are trustworthy. Meetings adhere to strict agendas, including starting and ending times. Maintain direct eye contact while speaking. Although English may be spoken, it is a good idea to hire an interpreter so as to avoid any misunderstandings. At the end of a meeting, some Germans signal their approval by rapping their knuckles on the tabletop. There is a strict protocol to follow when entering a room:
The eldest or highest ranking person enters the room first.
Men enter before women, if their age and status are roughly equivalent.
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USA
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Facts and Statistics Location: North America, bordering both the North Atlantic Ocean and the North Pacific Ocean, between Canada and Mexico Capital: Washington, DC Climate: Mostly temperate, but tropical in Hawaii and Florida, arctic in Alaska, semiarid in the great plains west of the Mississippi River, and arid in the Great Basin of the southwest. Population: 301,139,947 (July 2007 est.) Ethnic Make-up: White 81.7%, black 12.9%, Asian 4.2%, Amerindian and Alaska native 1%, native Hawaiian and other Pacific islander 0.2% (2003 est.) Religions: Protestant 52%, Roman Catholic 24%, Mormon 2%, Jewish 1%, Muslim 1%, other 10%, none 10% (2002 est.) Government: Constitution-based federal republic Currency: US Dollar
Language in the USA The United States does not have an official language, but English is spoken by about 82% of the population as a native language. American Society and Cultur e Informal and Friendly Most people who come to the United States may already know a few things about the people through TV . Although this is of course a skewed reality some of the stereotypes are true, especially American friendliness and informality. People tend to not wait to be introduced, will begin to speak with strangers as they stand in a queue, sit next to each other at an event, etc. Visitors can often be surprised when people are so informal to the point of being very direct or even rude.
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Time is Money The country that coined the phrase obviously lives the phrase. In America, time is a very important commodity. People save time and spend time as if it were money in the bank. Americans ascribe personality characteristics and values based on how people use time. For example, people who are on-time are considered to be good people, reliable people who others can count on. Meeting and Greeting
Greetings are casual. A firm, brief and confident handshake, a smile, and a hello are all that is needed. Smile! Use first names, and be sure to introduce everyone to each other.
Business Dress
What is considered appropriate business attire varies by geographic region, day of the week and industry. In general, people in the East dress more formally, while people in the West are known for being a bit more casual. Executives usually dress formally regardless of which part of the country they are in. Casual Friday is common in many companies. High technology companies often wear casual clothes every day. For an initial meeting, dressing conservatively is always in good taste. Women can wear business suits, dresses or pantsuits. Men should wear a business suit unless you know the firm to be quite casual. Americans are direct. They value logic and linear thinking and expect people to speak clearly and in a straightforward manner. To them if you dont tell it how it is you simply waste time, and time is money. If you are from a culture that is more subtle in communication style, try not to be insulted by the directness. Try to get to your point more quickly and dont be afraid to be more direct and honest than you are used to. Americans will use the telephone to conduct business that would require a face-to-face meeting in most other countries. They do not insist upon seeing or getting to know the people with whom they do business.
Communication Styles
Business Meetings
Arrive on time for meetings since time and punctuality are so important to Americans. People are extremely punctual and view it as a sign of disrespect for someone to be late for a meeting or appointment. Meetings may appear relaxed, but they are taken quite seriously. If there is an agenda, it will be followed. At the conclusion of the meeting, there will be a summary of what was decided, a list of who will implement which facets and a list of the next steps to be taken and by whom. If you make a presentation, it should be direct and to the point. Visual aids should further enhance your case. Use statistics to back up your claims, since Americans are impressed by hard data and evidence. With the emphasis on controlling time, business is conducted rapidly. Expect very little small talk before getting down to business. It is common to attempt to reach an oral agreement at the first meeting. Theemphasis is on getting a contract signed rather than building a relationship. The relationship may develop once the first contract has been signed.
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BRAZIL
Facts and Statistics Location : Eastern South America bordering Argentina 1,224 km, Bolivia 3,400 km, Colombia 1,643 km, French Guiana 673 km, Guyana 1,119 km, Paraguay 1,290 km, Peru 1,560 km, Suriname 597 km, Uruguay 985 km, Venezuela 2,200 km Capital : Brazilia Climate : Mostly tropical, but temperate in south Population : 184,101,109 Ethnic Make-up : White (includes Portuguese, German, Italian, Spanish, Polish) 55%, mixed white and black 38%, black 6%, other (includes Japanese, Arab, Amerindian) 1% Religions : Roman Catholic (nominal) 80% Government : Federative republic Currency - The currency of Brazil is known as the Real (BRL). Language in Brazil Language is one of the strongest elements of Brazils national unity. Portuguese is spoken by nearly 100 percent of the population. Dress Etiquette
Brazilians pride themselves on dressing well. Men should wear conservative, dark coloured business suits. Three-piece suits typically indicate that someone is an executive. Women should wear suits or dresses that are elegant and feminine with good quality accessories. Manicures are expected.
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Meeting Etiquette
Men shake hands when greeting one another, while maintaining steady eye contact. Women generally kiss each other, starting with the left and alternating cheeks. Hugging and backslapping are common greetings among Brazilian friends. If a woman wishes to shake hands with a man, she should extend her hand first.
Dining Etiquette If you are invited to a Brazilians house : Arrive at least 30 minutes late if the invitation is for dinner.
Arrive up to an hour late for a party or large gathering.
Brazilians dress with a flair and judge others on their appearance. Casual dress is more formal than in many other countries. Always dress elegantly and err on the side of over-dressing rather than under- dressing. If you did not bring a gift to the hostess, flowers the next day are always appreciated.
Business appointments are required and can often be scheduled on short notice; however, it is best to make them 2 to 3 weeks in advance. Confirm the meeting in writing. It is not uncommon for appointments to be cancelled or changed at the last minute. In Sao Paulo and Brasilia it is important to arrive on time for meetings. In Rio de Janeiro and other cities it is acceptable to arrive a few minutes late for a meeting. Do not appear impatient if you are kept waiting. Brazilians see time as something outside their control and the demands of relationships takes precedence over adhering to a strict schedule. Meetings are generally rather informal. Expect to be interrupted while you are speaking or making a presentation. Avoid confrontations. Do not appear frustrated with your Brazilian colleagues.
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AUSTRALIA
Facts and Statistics Location: Oceania, continent between the Indian Ocean and the South Pacific Ocean Capital: Canberra Climate: Generally arid to semiarid; temperate in south and east; tropical in north Population: 19,913,144 (July 2004 est.) Ethnic Make-up: Caucasian 92%, Asian 7%, aboriginal and other 1% Religions: ;Anglican 26.1%, Roman Catholic 26%, other Christian 24.3%, non-Christian 11%, other 12.6% Government: Democratic, federal-state system recognizing the British monarch as sovereign Currency: The currency of Australia is Australian Dollar (AUD). Languages in Australia English is the primary language used in Australia. What to wear?
Business dress is conservative in Melbourne and Sydney. Men should wear a dark coloured, conservative business suit. Women should wear a smart dress or a business suit. In Brisbane or other tropical areas, depending on the job function and company culture, men may wear shirts, ties and Bermuda shorts.
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Meeting Etiquette
Australians are not very formal so greetings are casual and relaxed. A handshake and smile suffices. While an Australian may say, Gday or Gday, mate, this may sound patronizing from a foreigner. Visitors should simply say, Hello or Hello, how are you? Aussies prefer to use first names, even at the initial meeting
Dining Etiquette
Many invitations to an Aussies home will be for a barbie (BBQ). Guests to a barbeque typically bring wine or beer for their personal consumption. In some cases, very informal barbecues may suggest that you bring your own meat! Arrive on time if invited to dinner; no more than 15 minutes late if invited to a barbeque or a large party. Contact the hostess ahead of time to see if she would like you to bring a dish. Offer to help the hostess with the preparation or clearing up after a meal is served.
Watch your table manners!
Table manners are Continental hold the fork in the left hand and the knife in the right while eating. Indicate you have finished eating by laying your knife and fork parallel on your plate with the handles facing to the right. Keep your elbows off the table and your hands above the table when eating.
Appointments are necessary and relatively easy to schedule. They should be made with as much lead time as possible. Punctuality is important in business situations. It is better to arrive a few minutes early than to keep someone waiting. Meetings are generally relaxed; However, they are serious events. If an Australian takes exception to something tha t you say, they will tell you so. If you make a presentation, avoid hype, making exaggerated claims, or bells and whistles. Present your business case with facts and figures. Emotions and feelings are not important in the Australian business climate.
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SINGAPORE
Facts and Statistics Location: Southeastern Asia, islands between Malaysia and Indonesia Capital: Singapore Population: 4,353,893 (July 2004 est.) Ethnic Make-up: Chinese 76.7%, Malay 14%, Indian 7.9%, other 1.4% Religions: Buddhist (Chinese), Muslim (Malays), Christian, Hindu, Sikh, Taoist, Confucianist Currency: The currency of Singapore is Singapore Dollar (SGD) The Language Singapore has attempted to promote a national identity in its land of immigrants since its independence in 1965. As part of this effort, Singapore has four national languages: Mandarin, Malay, Tamil and English. For business and politics, English is the language of choice. Meeting and Greeting
Greetings will follow a strict protocol often based on both the ethnic origin and age of the person. Younger people or those who work in multi-national companies may have adopted the western concept of shaking hands with everyone, but this is not the case with older or more reserved Singaporeans. Ethnic Chinese shake hands. Their grasp is rather light although the handshake itself can be rather prolonged. Men and women may shake hands, although the woman must extend her hand first. Introductions are always done in order of age or status.
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Between men, ethnic Malays shake hands. Men and women do not traditionally shake hands, since Muslim men do not touch women in public. Younger Malays may shake hands with foreign women, but it is more appropriate to use the salaam (bowing the head) greeting. This is also the greeting to be used when two women meet. Ethnic Indians shake hands with members of the same sex. When being introduced to someone of the opposite sex, nodding the head and smiling is usually sufficient. As with the other groups, the elderly or the person with the most status is introduced first.
Business Etiquette
Business in Singapore is more formal than in many western countries. There are strict rules of protocol that must be observed. The group (company or department) is viewed as more important than the individual. People observe a strict chain of command, which comes with expectations on both sides. In order to keep others from losing face, much communication will be non-verbal and you must closely watch the facial expressions and body language of people you work with.
Appointments are necessary and should be made at least 2 weeks in advance, whenever possible. The most formal way to schedule a meeting is to write to the person concerned, although most Singaporeans will schedule an appointment by telephone, fax, or email. Do not try to schedule meetings during Chinese New Year (late January/early February), since many businesses close for the entire week. You should arrive at meetings on time. Punctuality is a virtue. There will be period of small talk before getting down to business discussions. Since questioning authority is a taboo, it is important to encourage questions when after making a presentation and then smile when a question is eventually asked. Presentations should be accompanied by backup material, including charts and figures. Never disagree or criticize someone who is senior to you in rank as it will cause both of you to lose face and may destroy the business relationship. Pay attention to non-verbal communication
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CUrioUs qUestions answered
1. What is recession? What is its impact of current one on various countries?

Recession is significant decline in activity across the economy, lasting longer than a few months. It is visible in industrial production, employment, real income and wholesale-retail trade. The technical indicator of a recession is two consecutive quarters of negative economic growth as measured by a countrys gross domestic product (GDP); although the National Bureau of Economic Research (NBER) does not necessarily need to see this occur to call recession. Recession is a normal (albeit unpleasant) part of the business cycle; however, one-time crisis events can often trigger the onset of recession. The global recession of 2008-2009 brought a great amount of attention to the risky investment strategies used by many large financial institutions, along with the truly global nature of the financial system. As a result of such a widespread global recession, the economies of virtually all the worlds developed and developing nations suffered extreme set-backs and numerous government policies were implemented to help prevent a similar future financial crisis.
A recession generally lasts from six to eighteen months, and the interest rates usually fall during these months to stimulate the economy by offering cheap rates at which to borrow money. India: Growth has cooled as tighter monetary conditions cool domestic demand, while political stasis at the national level weighs on business sentiment. Inflation remains elevated, though has cooled enough to allow a single rate cut from the central bank. Indias fiscal deficit and modest savings rate means that firms must rely on foreign capital to fund investment. This would be at risk if the economy slows further . China: Chinas economy is still growing but at a slower pace. The property market and exports are the two key downside risks. Government is beginning to ease some policy settings, lowering reserve ratios among other steps. Investment in ar eas such as railroads and utilities will boost growth this year. U.S.A.: The U.S. economy has hit another midyear soft patch, and with the slowdown concentrated in business investment and exports, its up to consumers to carry the economy. Businesses are concerned about the fate of the euro zone and the rapidly approaching U.S. fiscal cliff. The economy is expected to grow 2% this year but the outlook is much less certain given Europes travails. The chance that Europe will go down a darker road is uncomfortably high. If the euro zone fractures, the U.S. recovery could also falter . Brazil: GDP remarkably decelerated coming from annual rates around 9% in the first half of 2010 to around 1% at the beginning of this year, when the economy remained almost stalled with respect to the previous quarters. It is expected that the economy will gain steam in the second half of the year, propelled by fiscal and monetary stimuli, thus reducing the risk of recession. Australia: Mining and related sectors are powering Australias economy. Resilient commodity demand and a strong investment pipeline suggest fixed investment will be the main growth driver in coming quarters. There is softness in the non mining sectors but there have been signs of recovering strength. South Africa: South Africas economic expansion remains on track but weak spots remain. The slowdown in Europe will crimp growth as it accounts for the bulk of the countrys exports, while high unemployment caps consumer demand, which accounts for about 65% of GDP . Inflation remains elevated and could weigh on sentiment.
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U.K.: The U.K. economy has fallen back into its second recession in four years. GDP shrank 0.3% q/q in the first three months of 2012, after contracting by a similar amount at the end of last year. Renewed troubles in the euro zone are a key risk; trade and financial linkages leave the U.K. economy exposed. Germany: German GDP contracted 0.2% in the fourth quarter of 2011. This follows a 0.6% increase in the previous quarter, and growth for 2011 is estimated to be 3%. Consumption, exports and imports all declined, and government spending growth weakened on a quarterly basis. GDP growth is expected to weaken further in the next quarters as foreign demand and the important industrial sector weaken due to the again-escalating sovereign debt crisis. Moodys Analytics expects the German economy to contract further in the first quarter of 2012 and grow a modest 0.4% in 2012. Greece: Greeces contraction in domestic demand and output turned out to be much deeper than anticipated by the troika of official creditors. Following a 3.5% contraction in 2010, GDP fell nearly 7% in 2011. As a result of harsh fiscal austerity measures that the government has pledged to implement, GDP is forecast to contract another 5.6% in 2012. Spain: GDP in Spain contracted by 0.3% in the fourth quarter of 2011 from the third and will continue to contract through 2012. PMI reports on services and manufacturing have remained firmly in negative territory this year. Fiscal asuterity and a lack of competitive exports will be major drags.
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2. What is the European Debt Crisis?

The European debt crisis is the shorthand term for Europes struggle to pay the debts it has built up in recent decades. Five of the regions countries Greece, Portugal, Ireland, Italy, and Spain have, to varying degrees, failed to generate enough economic growth to make their ability to pay back bondholders the guarantee it was intended to be. Although these five were seen as being the countries in immediate danger of a possible default, the crisis has far-reaching consequences that extend beyond their borders to the world as a whole. In fact, the head of the Bank of England referred to it as the most serious financial crisis at least since the 1930s, if not ever, in October 2011. This is one of most important problems facing the world economy, but it is also one of the hardest to understand. * How did the crisis begin? The global economy has experienced slow growth since the U.S. financial crisis of 2008-2009, which has exposed the unsustainable fiscal policies of countries in Europe and around the globe. Greece, which spent heartily for years and failed to undertake fiscal reforms, was one of the first to feel the pinch of weaker growth. When growth slows, so do tax revenues making high budget deficits unsustainable. The result was that the new Prime Minister George Papandreou, in late 2009, was forced to announce that previous governments had failed to reveal the size of the nations deficits. In truth, Greeces debts were so large that they actually exceed the size of the nations entire economy, and the country could no longer hide the problem. Investors responded by demanding higher yields on Greeces bonds, which raised the cost of the countrys debt burden and necessitated a series of bailouts by the European Union and European Central Bank (ECB). The markets also began driving up bond yields in the other heavily indebted countries in the region, anticipating problems similar to what occurred in Greece. * What did European governments do about the crisis? The European Union has taken action, but it has moved slowly since it requires the consent of all 17 nations in the union. The primary course of action thus far has been a series of bailouts for Europes troubled economies. In spring, 2010, when the European Union and International Monetary Fund disbursed 110 billion euros (the equivalent of $163 billion) to Greece. Greece required a second bailout in mid-2011, this time worth about $157 billion. On March 9, 2012, Greece and its creditors agreed to a debt restructuring that set the stage for another round of bailout funds. Ireland and Portugal also received bailouts, in November 2010 and May 2011, respectively. The Eurozone member states also created the European Financial Stability Facility (EFSF) to provide emergency lending to countries in financial difficulty. The European Central Bank also has become involved. The ECB announced a plan, in August 2011, to purchase government bonds if necessary in order to keep yields from spiraling to a level that countries such as Italy and Spain could no longer afford. In December 2011, the ECB made 489 ($639 billion) in credit available to the regions tr oubled banks at ultra-low rates, then followed with a second round in February 2012. The name for this program was the Long Term Refinancing Operation, or LTRO. Numerous financial instituions had debt coming due in 2012, causing them to hold on to their reserves rather than extend loans. Slower loan growth, in turn, could weigh on economic growth and make the crisis worse. As a result, the ECB sought to boost the banks balance sheets to help forestall this potential issue. Although the actions by European policy makers usually helped stabilize the financial markets in the short term, they were widely criticized as merely kicking the can down the road, or postponing a true solution to a later date. In addition, a larger issue loomed: while smaller countries such as
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Greece are small enough to be rescued by the European Central Bank, Italy and Spain are too big to be saved. The perilous state of the countries fiscal health was therefore a key issue for the markets at various points in 2010, 2011, and 2012. * Is fiscal austerity the answer? Not necessarily. Germanys push for austerity (higher taxes and lower spending) measures in the regions smaller nations is problematic in that reduced government spending can lead to slower growth, which means lower tax revenues for countries to pay their bills. In turn, this makes it more difficult for the high-debt nations to dig themselves out. The prospect of lower government spending has led to massive public protests and made it more difficult for policymakers to take all of the steps necessary to resolve the crisis. In addition, the entire region slipped toward a recession in late 2011 due in part to these measures and the overall loss of confidence among businesses and investors. Nevertheless, Europes richer countries have little choice but to pressure the smaller nations to tighten their belts since they are facing pressure from their own citizens. Taxpayers in countries such as Germany and France balk at using their money to fund what is seen as the overspending of Greece and the other troubled European countries. This type of fundamental, high-level disagreement has made a solution more difficult to achieve.
* What is the outlook for the crisis? As of May 2012, Europe remains in turmoil. Greeces exit from the euro appears inevitable; according to Bloomberg, Citigroup economists see a 75% chance that Greece could leave the euro after its elections later in the year, since the elections would likely lead to a rejection of the countrys latest bailout package. In addition, over 50 percent of investors surveyed by Bloomberg News predict an exit of a euro member at some point in 2012. Instability continues to affect the rest of Europe as well: French President Nicolas Sarkozy lost power due in part to his support for austerity measures, and the region had fallen into a recession. Spain, for its part, faces 25% unemployment with no clear path to growth. European policymakers - who already lack unity face a difficult choice: keep the currency union together, with all of the challenges that would entail, or allow Greece (and possibly Spain and/or Italy) to exit, a path that would likely lead to financial market chaos. As a result, the chance of a further economic shock to the region - and the world economy as a whole - is still a significant possibility, and will likely to remain so for several years
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3. How does Google earn money?

When it comes to Microsoft we all know how they make money. Most of their revenue comes from the flagship products Microsoft Windows & Microsoft Office But have you ever wondered how Google makes money ? Google has provided Internet users with loads of valuable products and facilities. The most popular of these are the following.
Google Search Engine Gmail Youtube Orkut Google Adsense Google Adwords Blogger Google Maps Google Earth Google News Google Analytics Android (operating system)
Thirty seven billion dollars ($37 bn). Guess what? Thats the 2011 revenue of the search engine giant Google . But how is that really possible when they dont have any tangible products or when they dont charge a penny for most of their products/services? Then, where does this revenue come from? Well, its advertising, and again advertising Google AdWords & Google AdSense to be precise. In fact 97% of Googles revenue is from advertising.
But Wait, I Dont See Any Ads On Google Googles homepage is almost empty with no contents or ads. And, everything you use from them is absolutely free whether its Search, Gmail, Orkut, YouTube, Apps, Docs, Picasa, Maps, Earth, News, Analytics, Blogger or the so called 101 Google Products And Services You Probably Dont Know. Then how the hell do they make big bucks?
Its all about advertising. Google has a very popular auction based advertising program called Google AdWords . With Google AdWords you can advertise your business on Googles SERP (Search Engine Results Page). That is where all the revenue comes from. If you have noticed carefully during any of your searches on Google, there is a section called Ads. These are obviously contributions by advertisers who pay Google every time you click on any of those. So if you search for loans or say insurance on Google then youll find ads relevant to loans or insurance itself.
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Thats not all. Google has an advertising program called Google AdSense that allows publishers to make money by displaying relevant a ds on our website/blog. When it comes to monetizing every webmaster, publishers prefers Google AdSense. Its really a Win-Win-Win Situation The thought of making money without any tangible products can be difficult to absorb but its essence lies in Googles innovation. Google gets the money from their advertisers. And, the advertiser pays only when someone clicks on their ad. This is contrary to traditional banner advertising where advertisers are required to pay whenever their ad is displayed on a banner network. The consumer who is searching for a particular product sees only relevant ads. So it is this advertising that creates a win-win-win situation for Google, Advertisers & Consumers. Okay. So How Much Does Google AdWords Charge Per Click?
The price an advertiser pays for a click (known as Cost Per Click or simply CPC) usually depends on a lot of factors. Google is using a kind of bidding system. You select the keywords for which you want to show ads so that when someone searches for those keywords on Google, your ads will be shown. Lets say you own an insurance company and want to find customers. What you do is bid on keywords related to Insurance like buy insurance, life insurance etc. So whenever someone searches for buy insurance or life insurance your ads will be shown. The price you need to pay Google depends on the competition for that particular keyword(s). Now if there are many other companies bidding for the same keyword then most probably youll have to outbid them. The Cost Per Click (CPC) varies from 0.01$ to 100$ or maybe even more. Holy Google! Advertisers are paying as high as $50 per click for insurance, mortgages and loans related keywords. (Please see the graphics below) Who is actually spending these billions on search ads? The following info graphics is the answer Google Revenue Sources . Did You Know? About 69% of Googles revenue comes from ads running on Googles own websites including Google, YouTube, and Orkut, about 28% of the total revenue comes from ads running on Googles partner sites via Google AdSense. And the rest comes from Google Apps subscriptions, Gmail paid storage, Google search appliance sales, etc. The most bizarre thing about Googles business is that they hardly have any tangible products. Then what is it that they sell? Traffic, yes you got it right, they sell real traffic. So now you know that the biggest search engine is also the biggest advertising company in the world
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4. How do stock markets function, especially in India?

It is said that to be really successful in life, you need to have your fundamentals strong. But how many of us actually sit down and try to find answers to basic questions related to whatever we are interested in? For example, how many investors who play the markets regularly actually know what a stock exchange is, how did it come into being and its importance? Every day, stocks are exchanged and traded in numerous stock markets around the world. The liquidity they bring are a vital component of economic growth. However, we seldom stop and think about the vital role that a stock exchange plays. Lets find out few basics about Stock Markets.
What is a stock exchange? A stock exchange is a corporation or mutual organisation which provides trading facilities for stock brokers to trade in stocks and other securities. The securities traded on a stock exchange include: shares issued by companies, unit trusts, derivatives, pooled investment products and bonds. Simply put, stock exchanges are open markets that trade in financial assets. Whether associated with a company or acting as an individual, a stock exchange is the place where stocks are bought and sold. There are a number of major stock exchanges around the world and each of these plays a part in determining the overall economic condition.
Which was the first stock exchange? The first stock exchange was in the Netherlands when the Dutch East India Company issued the first shares on the Amsterdam Stock Exchange. Slowly, stock exchanges opened in London and in New York.
What is the role of a stock exchange that makes it vital to an economy? The main function of a stock exchange is to facilitate the transactions associated with both buying and selling of securities. Buyers and sellers of shares and stocks can track the price changes of securities from the stock markets (derivatives, equity etc.) in which they operate. Also, stock exchanges have multiple roles in an economy which make it vital. These roles include:
Raising capital for businesses Mobilising savings for investment Facilitating company growth Profit sharing Corporate governance Creating investment opportunities for small investors
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Government capital-raising for development projects Barometer of the economy
How does a stock exchange operate? With the help of stockbrokers, the buyers and sellers participating in a stock market carry out their transactions. The brokers representing selling parties take their orders to the stock exchange floor and then find brokers representing parties willing to invest in similar stocks. If both parties agree to trade at the fixed price, the transaction takes place.
What are the requirements to trade in a stock exchange? Companies have to meet the requirements of the exchange in order to have their stocks listed and traded, but requirements vary by stock exchange. However, the common requirements are that to be able to trade a security on a certain stock exchange, it has to be listed there and trading is done by members only. In India, Bombay Stock Exchange, which is the oldest stock exchange in Asia located in Dalal Street, Mumbai, India has requirements for a minimum market capitalisation of Rs 25 crore (Rs 250 million) and minimum public float equivalent to Rs 10 crore (Rs 100 million).
The main stock exchanges in India are : 1. Bombay Stock Exchange BSE BSE is the leading and the oldest stock exchange in India as well as in Asia. It was established in 1887 with the formation of The Native Share and Stock Brokers Association. BSE is a very active stock exchange with highest number of listed securities in India. Nearly 70% to 80% of all transactions in the India are done alone in BSE. Companies traded on BSE were 5140 by June 2012. BSE is now a national stock exchange as the BSE has started allowing its members to setup computer terminals outside the city of Mumbai (former Bombay). It is the only stock exchange in India which is given permanent recognition by the government. At present, (Since 1980) BSE is located in the Phiroze Jeejeebhoy Towers (28 storey building) located at Dalal Street, Fort, Mumbai. Pin code - 400021. In 2005, BSE was given the status of a full fledged public limited company along with a new name as Bombay Stock Exchange Limited. The BSE has computerized its trading system by introducing BOLT (Bombay Online Trading) since March 1995. BSE is operating BOLT at 250 cities with 5 lakh (0.5 million) traders a day. Average daily turnover of BSE is near Rs. 2110 crores (figure of June 2012). 2. National Stock Exchange NSE Formation of National Stock Exchange of India Limited (NSE) in 1992 is one important development in the Indian capital market. The need was felt by the industry and investing community since 1991. The NSE is slowly becoming the leading stock exchange in terms of technology, systems and practices in due course of time. NSE is the largest and most modern
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stock exchange in India. In addition, it is the third largest exchange in the world next to two exchanges operating in the USA. The NSE boasts of screen based trading system. In the NSE, the available system provides complete market transparency of trading operations to both trading members and the participates and finds a suitable match. The NSE does not have trading floors as in conventional stock exchanges. The trading is entirely screen based with automated order machine. The screen provides entire market information at the press of a button. At the same time, the system provides for concealment of the identify of market operations. The screen gives all information which is dynamically updated. As the market participants sit in their own offices, they have all the advantages of back office support, and facility to get in touch with their constituents.
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5. What is inflation, and what causes it?

Till few years back, you could buy a Kg. of wheat at Rs. 2.00, a new car for less than Rs. 2 lakhs and an average house for around Rs.6 lakhs. In the twenty-first century, grocery, cars, houses and just about everything else cost more. A lot more. Clearly, weve experienced a significant amount of inflation over the last 60 years. Inflation is defined as a sustained increase in the general level of prices for goods and services. It is measured as an annual percentage increase. As inflation rises, every Rupee you own buys a smaller percentage of a good or service. The value of a Rupee does not stay constant when there is inflation. The value of a Rupee is observed in terms of purchasing power, which is the real, tangible goods that money can buy. When inflation goes up, there is a decline in the purchasing power of money. For example, if the inflation rate is 2% annually, then theoretically a Re. 1 pack of gum will cost Rs. 1.02 in a year. After inflation, your Rupee cant buy the same goods it could beforehand.
Causes of Inflation Economists wake up in the morning hoping for a chance to debate the causes of inflation. There is no one cause thats universally agreed upon, but at least two theories are generally accepted: Demand-Pull Inflation - This theory can be summarized as too much money chasing too few goods. In other words, if demand is growing faster than supply, prices will increase. This usually occurs in growing economies. Cost-Push Inflation - When companies costs go up, they need to increase prices to maintain their profit margins. Increased costs can include things such as wages, taxes, or increased costs of imports.
Costs of Inflation Almost everyone thinks inflation is evil, but it isnt necessarily so. Inflation affects different people in different ways. It also depends on whether in flation is anticipated or unanticipated. If the inflation rate corresponds to what the majority of people are expecting (anticipated inflation), then we can compensate and the cost isnt high. For example, banks can vary their interest rates and workers can negotiate contracts that include aut omatic wage hikes as the price level goes up. Problems arise when there is unanticipated inflation:
Creditors lose and debtors gain if the lender does not anticipate inflation correctly. For those who borrow, this is similar to getting an interest-free loan. Uncertainty about what will happen next makes corporations and consumers less likely to spend. This hurts economic output in the long run. People living off a fixed-income, such as retirees, see a decline in their purchasing power and, consequently, their standard of living. The entire economy must absorb repricing costs (menu costs) as price lists, labels, menus and more have to be updated. If the inflation rate is greater than that of other countries, domestic products become less competitive.
People like to complain about prices going up, but they often ignore the fact that wages should be rising as well. The question shouldnt be whether inflation is rising, but whether its rising at a quicker pace than your wages. Finally, inflation is a sign that an economy is growing. In some situations, little inflation (or even deflation) can be just as bad as high inflation. The lack of inflation may be an indication that the economy is weakening. As you can see, its not so easy to label inflation as either good or bad it depends on the overall economy as well as your personal situation.
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6. What is ITES? How does the call centre business work in India?
ITES, Information Technology Enabled Service , is defined as outsourcing of processes that can be enabled with information technology and covers diverse areas like finance, HR, administration, health care, telecommunication, manufacturing etc. Armed with technology and manpower, these services are provided from e-enabled locations. This radically reduces costs and improves service standards. In short, this Internet service provider aims in providing B2B e-commerce solutions. Call center is a centralized office of a comp any that answers incoming telephone calls from customers for enquiries, difficulties or makes outgoing telephone calls to customers for selling or feedback. They can handle a considerable volume of calls at the same time and can also log calls. It is the focal point of customer service for most companies today. Using a variety of technologies including computer automation, call centers connect the customer and the organization to meet customer needs in real time.
Call centers have application in many industries offering customer service. Many organizations use call centers to solicit clients or customers for new sales or donations and contributions. They can also be used to accomplish surveys of customer satisfaction or public opinion. Call center Management and Technical Positions Call centers offer a strong and diverse career path for customer service representatives. Several options in both management and technical areas are open for individuals willing to work in a call center.
Supervisor or team leader Training development and delivery Workforce scheduling Quality monitoring or quality assurance Business analyst (reporting and financials) Process specialists Human resources Information technology Facility design and maintenance
Significance of Call Center Call centers have particular significance in three areas :
Customer service and retention : Call center serve as the means by which the organization creates a long term relationship with individual customers. Direct marketing : Services or products required by the customer are directly marketed on phone or on Internet.
Source of management information : A call center with good software accumulates a great deal of information about customers.
Global organizations have always preferred outsourcing call center services to India, when compared to outsourcing to China, Philippines, Malaysia and other Asian countries. India has always been the most preferred outsourcing location, because call centers in India offer a wide variety of
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advantages that other countries do not offer . Today, having call centers in India has become the norm for several global companies. India has been able to effectively meet the growing international demand for call center outsourcing services by providing cost-effective services and customeroriented call centers. Many international organizations are also setting up call centers in India, because India has a large qualified workforce and can also provide cost-effective call center outsourcing services.
Why outsource to call centers in India?
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7. Fuel Prices in India - Is it a Crude Awakening?

While falling oil prices are good for a growing economy like India, the drop in coal prices may not help power producers Lower energy costs are always good news for growing economies. And international oil and coal prices have come down significantly in the past few months. The price of a barrel of Brent crude, to which two-thirds of the worlds oil varieties are benchmarked, has tumbled from about $120 to under $100, falling almost as quickly as it did in late 2008. The reason is simplesince March, the world has been producing more oil than it s consuming. Global oil consumption has been declining since the end of 2011, falling to 88.5 million barrels per day at the end of April, from 90.4 million barrels per day in December. At the same time, production has risen for more than a year, boosted by new finds in North America and a 10 percent increase in production from the Organization of the Petroleum Exporting Countries (OPEC). Shale gas and associated oil, now being produced in the US, has changed the balance of global oil flows. The oil cartel met this week and decided to maintain output at current levels and not cut it as demanded by Iran. So, prices are likely to remain soft for now. The Indian government is the biggest beneficiary of the drop in fuel costs. Since dieselthe biggest petroleum fuel sold in Indiais already sold below commercial price, pump prices are unlikely to go down. The impact of softening crude prices on the worlds fourth largest importer will be much more at a macro-level. Falling fuel prices are sure to spur growth. The y will reduce our import bill, which jumped 40 percent to $120 billion in 2011-12, and give skyrocketing oi l subsidies a break. The oil subsidy in FY12 was close to Rs 70,000 crore, putting severe strain on the fiscal. The picture is slightly different for coal, even though the reasons for softening prices are similar. Indian power producers are in a financial hole because they were unable to pass on the cost of higher coal prices to the consumer. It is ironic that entrepreneurs like GM Rao, Gautam Adani and the Tatas, who invested billions of dollars to put up these projects in a power-starved country, have their backs to the wall as the projects have failed to generate returns. Standing alongside them are banks and financial institutions that have large exposures to the power companies. Thermal coal touched $142 per tonne (for Newcas tle 5,500 kcalsAustralia is one of the largest exporters of coal) in January 2011. It is now trading at $87 per tonne. But Indian investors in the power sector are not out of the woods. Falling fuel prices are negated by steep depreciation in the Indian rupee, says Ashok Khurana, director general of the Association of Power Producers. In its latest report on coal, Fitch Ratings says the current low-price environment is likely to persist into 2013, forcing high-cost coal producers in Australia and the US to cut production and review expansion projects. This could set back companies like GVK, Adani and Lanco that are in the process of raising billions of dollars to develop coal mines in Australia and elsewhere.
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8. Why does going green make good business sense?

Going green is not just a trend spurred on by extreme environmentalist. The growing list of green products and increasing interest in the environment makes going green good business sense. It is not necessary to be an organic grocer or yoga instructor to run a green business. Businesses can become environmentally friendly by adopting a few simple techniques. Additionally, rather than increasing costs, many green business practices will actually help you save money in the long run. Give People What They Want: What Can Your Business Do To Go Green? Organic produce and green products managed to survive a recession. This speaks volumes. There are people who want to protect the environment and choose environmental friendly products whenever they are available. Retailers need to offer recycled, organic and chemical-free merchandise, particularly in communities that are environmentally aware. Printers should look for post-consumer recycled materials. Restaurants and food purveyors have biodegradable food container options, and they can increase their quality by choosing local ingredients whenever possible. Any manufacturing business can choose raw materials that are recycled or, at the very least, nontoxic materials. All of these options will help green a business. Green advertising is becoming commonplace. We are inundated with pictures of trees and wildlife, so try to come up with something unique to market a green business. Choose images that reflect the business itself, and use them to connect with customers electronically. Not only does this save on printing costs, it also saves trees. Ways to Save Money and the Environment Green business does more than attract new customers; it will save money. The money saved on energy alone makes going green worthwhile. Start by choosing energy saving light bulbs. They last 10 times longer than traditional bulbs and use 75 percent less energy. Keeping the lights off when a room is empty will also lower the electric bill. Many rooms can be lit simply by using available daylight. Using sunlight at work is good for growing plants that decorate the room while oxygenating the air. Along with allowing natural light in, try letting in some fresh air as well. Air conditioners use quite a bit of energy and run up the bill. Open the windows and run ceiling fans on nice days. Purchasing equipment that is energy efficient can reduce energy bills. Make sure that all equipment is clean and in good working order, and turn off machines when they are not being used. Use recycled paper products whenever possible. Recycled paper products that are easy to find include paper towels, toilet paper, napkins and paper plates. Better yet, provide real plates and glasses in the kitchen or break room. These can be washed and reused, which will cut costs on paper products and reduce waste. Conduct business online or over the phone whenever possible. We live in the digital age, so why not take advantage of it? Teleconferences make it possible for people across the globe to meet and discuss the business without having to travel. This saves energy and money on travel expenses. No one enjoys sitting in traffic, but commuting to work still remains a drain on natural resources. There are several options to reduce the energy used simply to go to work. Some businesses encourage employees to carpool or institute working four 10-hour days rather than five eighthour days. Businesses that require company vehicles should look into energy efficient cars, trucks or SUVs.
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Hybrids are becoming easier to find as the price of fuel increases. It is also important to understand that a vehicle needs to be maintained for optimal energy efficiency. Reducing waste will cut costs and help a business go green. Use shredded papers, obviously not any documents with sensitive information, as packing material. Save rainwater and use it to water plants later. Set the printer to print both sides of the paper automatically, and choose a smaller font size and often style. Going green is an important step for a business to take. No matter the size of a company, it is possible to draw in customers and reduce company costs by creating a greener workplace. Green policies will also affect employee morale and involvement. Overall, a green business draws people together as they unite around a common cause. Preserving resources and saving the environment will not only save money and energy, it can also create a sense of pride in knowing that a business built today will have a positive impact on the future.
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9. How was Facebook born and who is its father?

The from its name after purchasing the domain name facebook.com in 2005 for $200,000. Facebook was opened on September 26, 2006 to everyone ages 13 and older with a valid e-mail address. In October 2008, Facebook announced that it would set up its international headquarters in Dublin, Ireland. Facebook was initially incorporated as a Florida LLC. For the first few months after its launch in February 2004, the costs for the website operations for thefacebook.com were paid for by Mark Zuckerberg and Eduardo Saverin, who had both taken equity stakes in the company. The website also ran a few advertisements to meet its operating costs. In the summer of 2004, Peter Thiel made a $500,000 angel investment in the social network Facebook for 10.2% of the company and joined Facebooks board. This was the first outside investment in Facebook. On July 17, 2007, Zuckerberg said that selling Facebook was unlikely because he wanted to keep it independent, saying Were not really looking to sell the company... Were not looking to IPO anytime soon. Its just not the core focus of the company. In September 2007, Microsoft approached Facebook, proposing an investment in return for a 5% stake in the company, offering an estimated $300500 million. That month, other companies, including Google, expressed interest in buying a portion of Facebook. In early 2012, Facebook disclosed that its profits had jumped 65% to $1 billion in the previous year when its revenue, which is mainly from advertising, had jumped almost 90% to $3.71 billion. Facebook also reported that 56% of its advertising revenue comes from the U.S alone, and that 12% of its revenue comes from zynga, the social ne twork game development company. Payments and other fees were $557 million up from $106 million the previous year. Facebook filed for an initial public offering (IPO) on February 1, 2012. The preliminary prospectus stated that the company was seeking to raise $5 billion. The document announced that the company had 845 million active monthly users and its website featured 2.7 billion daily likes and
DATE AUGUST 26, 2008 APRIL 8, 2009 SEPTEMBER 15, 2009 FEBRUARY 5, 2010 JULY 21, 2010 JANUARY 5, 2011 MAY 30, 2011 SEPTEMBER 22, 2011 APRIL 24, 2012
USERS (IN MILLIONS) 100 200 300 400 500 600 700 800 900
DAYS LATER 1,665 225 160 143 166 168 145 115 215
MONTHLY GROWTH 178.38% 13.33 9.38% 6.99% 4.52 3.57 3.45 3.73 1.74
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comments. After the IPO, Zuckerberg will retain a 22% ownership share in Facebook and will own 57% of the voting shares. Underwriters valued the shares at $38 each, pricing the company at $104 billion, the largest valuation to date for a newly public company. On May 16, one day before the IPO, Facebook announced that it would sell 25% more shares than originally planned due to high demand. The IPO raised $16 billion, making it the third largest in U.S. history (just ahead of AT&T Wireless and behind only General Motors and Visa Inc.). The stock price left the company with a higher market capitalization than all but a few U.S. corporations surpassing heavyweights such as Amazon.com, McDonalds, Disney, and Kraft Foods and made Zuckerbergs stock worth $19 billion. The New York Times stated that the offering overcame questions about Facebooks difficulties in attracting advertisers to transform the company into a must-own stock. Jimmy Lee of JPMorgan Chase described it as the next great blue-chip. Writers at TechCrunch, on the other hand, expressed skepticism, stating, Thats a big multiple to live up to, and [Facebook] will likely need to add bold new revenue streams to justify the mammoth valuation.
Trading in the stock, which began on May 18, was delayed that day due to technical problems with the NASDAQ exchange. The stock struggled to stay above the IPO price for most of the day, forcing underwriters to buy back shares to support the price. At closing bell, shares were valued at $38.23, only $0.23 above the IPO price and down $3.82 from the opening bell value. The opening was widely described by the financial press as a disappointment. The stock nonetheless set a new record for trading volume of an IPO. On 25 May 2012, the stock ended its first full week of trading at $31.91, a 16.5% decline. On 22 May, regulators from Wall Streets Financial Industry Regulatory Authority announced that they had begun to investigate whether banks underwriting Facebook had improperly shared information only with select clients, rather than the general public. Massachusetts Secretary of State William Galvin subpeonaed Morgan Stanley over the same issue. The allegations sparked fury among some investors and led to the immediate filing of several lawsuits, one of them a class action suit claiming more than $2.5 billion in losses due to the IPO. Bloomberg estimated that retail investors may have lost approximately $630 million on Facebook stock since its debut.
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10. What is Wi-Fi and how does it work?

WiFi is the nickname for Wireless Fidelity - high speed internet and network connection without the use of wires, cables and other stuff you can trip over. In a lot of ways WiFi is easier and cheaper to set up and run than a wired network - mainly due to the whole lack of wires/ cables aspect, and allows you to move your computer quickly and easily around your home without having to worry about where the closest phone socket is kept. It also allows you to connect multiple computers to the one internet connection, quickly and easily. Outside the house, WiFi is steadily growing its global coverage. While it doesnt have the same range as Cell Phones yet, it does allow simple, easy remote access to the internet or your home/ company network whenever you happen to be within a hotspot. WiFi is the sort of technology that will fast become second-nature in everyones lives, like Television and Cell Phones have done before it. One day in the not-too-distant future well be wondering how we ever suffered with cords and cables lying about the place for so long. Youll wonder why it took you so long to get on board. This is freedom for the 21st century, pure and simple. How Does WiFi Work? Just How Can I Surf The Net Without A Phone Cable? I know it might sound nuts - how can all this information that Im currently uploading and downloading from my computer through a phone cable be transmitted through the air?! WiFi works, in essence, exactly the same way a Television or Cell Phone works. They dont have cables attached to them for transmitting information and neither will your computer once you start using WiFi. Basically, WiFi uses radio waves to transmit the information to and from the internet or your computer network. When a website wants to communicate with your computer it sends the information to your modem as it does now on your wired connection, then the information is passed on to a wireless router, which then converts it to radio waves and beams it to your computer. You computer then interprets the ra dio waves with the help of installed hardware/ software specific for wireless networking. The reverse process occurs when your computer needs to communicate to the internet. All this to-ing and fro-ing happens a lot faster than it took to explain it. In a lot of cases a wireless connection is actually faster than a wired broadband connection. One of the fundamental differences between WiFi and your Cell Phone, however, is that WiFi operates on a much higher frequency (2.4GHz or 5GHz), as opposed to Cell Phones which work below the 1GHz level. The higher the frequency the higher the amount of data (information) that is able to be transferred. With one wireless router in your home you can connect multiple computers to each other and the internet, without any cables connecting each computer to its brother. In the techno-savvy family of today that spells a great convenience, as Dad can be working in his study, Mum can be working or surfing from her bedroom, and Son and Daughter can be in their own rooms researching homework assignments or chatting with their friends - all at once on individual computers. Few years back, a family would have to take turns to use the one computer, and then there would be the obligatory fight when someone had been using it for too long. Nowadays the only real problem is, how are we going to afford multiple computers for one family?
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11. What Went Wrong with the Aakash Tablet?

The disastrous Aakash project has expunged Indias dream of developing the worlds cheapest computing device. And questions remain unanswered. LOST CAUSE: Human Resource Development Minister Kapil Sibal displays the low-cost computing device during its unveiling in New Delhi on July 22, 2010 Imagine for a moment youre a scientist looking at a stubborn problemin this case, a mass of a few hundred million poor, uneducated people. To lift them out of poverty, friends who study economics tell you the first thing you ought to do is offer them access to affordable education. And that if you can, youll achieve three things. Create a better world; create an incredibly compelling business; and perhaps get a stab at immortality.
There are two ways to go about the problem. The first, you reckon you ought to think through the problem. That means look at the world around you, tinker with ideas, figure what works best, and build a cost-effective solution that eventually helps achieve the objectives stated above. The second is a pig-headed one. Look at how others around the world are attempting to crack the problem; call in the global media; tell them a tablet-like device with a touch screen can be built and sold at $35; another matter altogether youve got no clue how to go about it or why; and then try your damndest best for a stab at glory. In any case, as long as the problem is cracked, who gives a damn? With the benefit of hindsight, it is now obvious the Ministry of Human Resource Development (MHRD) chose the pig-headed option. What else explains the fact that almost two years ago, the ministry announced it is in the middle of developing a low-cost computing device for students that would cost just $35? And that when complete, a global tender for five million units of the device would be floated? The blitz that accompanied the announcement had the world in a tizzy. A little less than a year later, in February 2011, the Indian Institute of Technology (IIT), Jodhpur, which had taken upon itself the onus to decide what specifications this animal would run on, put out a global tender to build the first 10,000 units. In return for these services, the institution received Rs 47 crore from the government. DataWind, a 12-year-old Canadian company with subsidiaries in the UK and India won the contract, produced a prototype built to spec, and Kapil Sibal, the minister in charge of MHRD, unveiled Aakash, the worlds cheapest computing device. To put it mildly, the prototype was a disaster. Some phones in the market worked faster than this contraption. The battery couldnt last two hours if a user tried to play video files on it. The touch screen, well, wasnt touchy enough. And things got ugly between IIT Jodhpur and DataWind. Sibal finally stepped in and in early April this year announced that an upgraded version of the device will be made available by May. As this story goes to press, were in the middle of June. Aakash-2 is still being tested by C-DAC in Thiruvananthapuram; IIT Bombay has been appointed the new nodal institution to drive the
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project and officials there claim 100,000 units will be supplied for pilot tests by October this year. On its part, DataWind claims the 100,000 units have already been supplied to the institute. Nobody seems to have a clue what the truth is. What we know is this: Similar computing devices with superior capabilities are being brought out of Chinese factories by the thousands; India seems to have lost the plot; and what could have been an incredibly compelling story is now a stillborn. The race to build the worlds cheapest computing device started when the One Laptop Per Child (OLPC) project was announced in 2005. Headed by Nicholas Negroponte, best known as the founder of MITs Media Labs, it was a non-profit entity and funded by global majors like AMD, Google and Nortel among others. The central theme to this idea was to build a laptop that would cost no more than $100. But Negroponte was not a pig-headed man. He was clear that while keeping costs low was important, it wasnt the central objective. Instead, it was to make sure technology and resources could be delivered to schools in the least developed countries. He wasnt hung up on the $100 number. He knew that costs could go up by $30-40 or even $100. For various reasons though, a laptop at $100 was the number that stuck in the minds of people across the worldincluding NK Sinha, joint secretary at the MHRD. While the OLPC project has gone through many ups and downs including funders backing out, NK Sinha proposed the MHRD develop a laptop at $10one-tenth of the price the OLPC had proposed.
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12. How Venture Capital Backs Businesses?

Venture Capitalist is a sticky term that seems to be omnipresent in recent years, especially in terms of business arrangements involving tech companies. But what is it and how does it work? A venture capitalist frequently also called an Angel is a wealthy investor, pure and simple. These people, or firms, are usually successful entrepreneurs who are willing to bet a large portion of cash on a fledgling business with something special to offer. Generally, venture capitalists are involved in very large investments that typically consist of many millions of dollars. In exchange for assuming the risk and allowing the use of the money, venture capitalists receive an equity stake in the company. For many small businesses with big ideas, venture capitalist funding is the way to get their vision to market if they lack available funds. An Angels investment can be used for anything businessrelated, but it will be regulated by the venture capitalist through a term sheet that dictates what is to be done and when, as agreed upon by both parties.
Venture capitalists are particularly attractive to technology-based companies that may require large sums to manufacture a software or hardware product, for example, or to build infrastructure, hire staff or even more fully develop the idea the business is made around. Facebook is a terrific example of a tiny operation that started out with virtually no money and no employees and was transformed with the help of an initial investment into a multi-billion company that revolutionized social media and made the sub-industry a household name. Talk about a Cinderella story. Maybe youve got an invention or an idea for the next hot ticket and all this talk has you salivating for some venture capitalist funding of your own. There ar e a few steps you will need to take in order to have a chance at receiving any support. Heres what you need : A really big idea. But it cant just be a grand notion. It has to be something that will make money and a lot of it. Venture capitalists are in it for the payout, so if they dont see financial gain on the horizon, they wont be interested. A knock-your-socks-off pitch. The great idea is only the start. Then you must develop it into a business plan that can be explained thoroughly to assuage any concerns the investor may have initially. You will need to think quickly and be able to improvise during the presentation. In most cases, the initial meeting can go very quickly, so make sure the presentation has immediate impact. Contacts. If you dont know the players it will be difficult to get a meeting. Some firms do welcome initial email proposals and this may be a sufficient entry point for some. Connections can also be made through seasoned lawyers, successful business people such as CEOs and entrepreneurs and other similar types of people. Shake the bushes and see who might be in your circle of influence and able to help. A lawyer. Taking on the support of a venture capitalist is an important endeavor and should be treated with all the caution and due diligence afforded any major financial transaction. Get everything in writing and make sure a lawyer reviews all documents particularly the term sheet prior to signing. Luck. It always helps.
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13. What is BRIC? Has it hit a wall ?

The economies of Brazil, Russia, India and China grew at a furious pace for much of the past decade and looked like they would beat even the most optimistic of forecasts. But recent missteps and increased competition from other nations have slowed the momentum Jim ONeills epiphany came on September 11, 2001. Chief economist at Goldman Sachs then, he had grown up in a working class neighbourhood, south of Manchester in England getting drunk and playing soccer. Three thousand people died that day when 19 terrorists owing allegiance to Al-Qaeda, a terrorist group, hijacked four passenger jets. Of these, two were used to bring down New Yorks iconic twin towers at the World Trade Center; another one was rammed into the Pentagon, Americas defence headquarters; and one crash landed into a field in Pennsylvania after passengers onboard the plane overpowered the hijackers and a scuffle ensued. An outraged America responded with grief, fury and acts of retribution.
Unlike most people who believed this was a clash of civilisations, the economist in ONeill argued it was an act of lopsided globalisation. In fact, in January 2010, hed told the London-based Financial Times that all things global are exemplified by all things American. And that it didnt feel right to him. ...for globalisation to advance, it had to be accepted by more people but not by imposing the dominant American social and philosophical beliefs and structures, he argued. September 11 was his evidence. He called in his team of number geeks, including Roopa Purushothaman and Dominic Wilson, to interpret the world from this lens. It culminated in a report: Global Economics Paper No: 66. People in business and economics know of it as the BRIC report, with BRIC being an acronym for Brazil, Russia, India and China. The hypothesis it contained was this: Over the next 10 years, the weight of the BRICs and especially China in world gross domestic product (GDP) will grow. GDP measures the total market value of all final goods and services produced in a country in a given year, minus the value of what it imports. ...in line with these prospects, world policymaking forums should be re-organised, the report said. Therefore, it argued, investors across the world would do well to pay more attention to this block of nations. Investors across the world took notice and bet their money on the idea. The numbers prove it. In 2000, all the emerging markets put together got $200 billion in private capital investments. By 2010, this number had gone up eight times to one trillion dollars. Of this, almost 40 percent found their way into BRIC. In absolute terms, the number continues to grow even though the pace at which capital is coming in has declined since 2007. All ought to be well, therefore, in Brazil, Russia, India and China, and ONeill ought to be guzzling the beer down in an English pub. But all isnt well and ONeill isnt guzzling beer. Instead, his hypothesis is under intense scrutiny and ONeill is busy defending it. It is, therefore, important to closely scrutinise yet another series of numbers. If you went to the market to buy something using the Brazilian real, the Indian rupee or the Russian rouble, youd get much less of whatever you want to buy than you could in the recent past. Over the last four months, for instance, the value of the rupee has declined 11 percent. Each American dollar, the currency against which the value of all other currencies are measured by, is now worth Rs 54.4in economic jargon, the lowest the rupee has gone to. This, in spite of the fact that the American economy stands at a precarious point. By all
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yardsticks, each American dollar ought not to be able to buy so many Indian rupees. But it can. Add to this the fact that output from Indias factories shrunk 3.5 percent in March this year. That brings India close to the economic crisis it faced in 2008-09. Its much the same thing with Brazils real. Since the beginning of this year, it is down 15 percent against the dollar. The countrys economy is shrinking in spite of the Brazilian governments attempts to give it a fillip by cutting taxes and putting more money into the hands of its people. Chinas GDP , which was growing at an incred ible 10 percent, has slowed down to 8.9. While 8.9 is as good a number as any, its a slowdown nevertheless. That is because when GDP slows down, jobs are among the first casualties, and the workforce begins to get restless. In part, this is because the Chinese are cutting down on constructing new highways and railroads. If they slow down any more, demand for resources such as steel, copper and oil will taper and fall into a slump. The ripple effects are being felt in Brazil and Russia, both of which are exporters of resources to China. Like we articulated above, the real has already lost a significant amount of its value. And in Russia, industrial production grew just 1.3 percent last month, the slowest in two-and-a-half years. So, what happens now to investors whove poured their money into BRIC? More importantly, what happens to 40 percent of the worlds population that live in these four countries?
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14. Which are the Latest web and Internet marketing concepts ?
Viral marketing: is a marketing technique that uses pre-existing social networks to produce increases in brand awareness or to achieve other marketing objectives (such as product sales) through self-replicating viral processes, like the spread of pathological and computer viruses. It can be word-of-mouth delivered or enhanced by the network effects of the Internet. Viral promotions may take the form of video clips, interactive flash games, advergames, ebooks, brandable software, images, or even text messages. Permission marketing: Coined by Seth Godwin Permission marketing is an approach to selling goods and services in which a prospect explicitly agrees in advance to receive marketing information. Opt-in e-mail, where Internet users sign up in advance for information about certain product categories, is a good example of permission marketing. Advocates of permission marketing argue that it is effective because the prospect is more receptive to a message that has been requested in advance and more cost-efficient because the prospect is already identified and targeted. In a world of information overload, automated telemarketing, and spam, most people welcome the idea of permission marketing. Social media marketing: In the traditional marketing communications model, the content, frequency, timing, and medium of communications by the organization is in collaboration with an external agent, i.e. advertising agencies, marketing research firms, and public relations firms. With the emergence of Web 2.0, the internet provides a set of tools that allow people to build social and business connections, share information and collaborate on projects online. Social media marketing programs usually center on efforts to create content that attracts attention, generates online conversations, and encourages readers to share it with their social networks. The message spreads from user to user and presumably resonates because it is coming from a trusted source, as opposed to the brand or company itself. Social media is opening doors for organizations to increase their brand awareness and facilitate conversations with the customer. Organizations can receive direct feedback fr om their customers and targeted markets. Buzz marketing: Marketing buzz or simply buzz is a term used in word-of-mouth marketing. The interaction of consumers and users of a product or service serve to amplify the original marketing message. Buzz as a form of hype among consumers, a positive association, excitement, or anticipation about a product or service. Positive buzz is often a goal of viral marketing, public relations, and of advertising on Web media. The term refers both to the execution of the marketing technique, and the resulting goodwill that is created. Examples of products with strong marketing buzz upon introduction were Harry Potter, the Volkswagen New Beetle, Pokmon, and the Blair Witch Project. In India Tata used Buzz marketing to create positive hype for its Indica cars first and then for the cheapest car in the world - the Nano. In-game advertising: refers to the use of computer and video games as a medium to deliver advertising. In-game advertising is seen as a prime way to target the male in the 18-34 demographic, who are increasingly neglecting television in favor of computer and video games. However, some gamers see these moves as greedy and intrusive. In game advertising can be static (stationary like a hoarding or a backdrop) or dynamic (incorporated into the game itself).
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grooMing tips
1.
Why is personal grooming so important?
You want your confidence to come from your professionals abilities, but still your clothes are important. If you dress with your next position in mind youre more likely to get there. You would have heard that first impressions count (most of the time, it counts for almost everything!). Since humans are visual animals, the first and biggest impression they form of another human being (before or at first contact) is visually by their physical appearance. There is undeniably a significant relationship between personal grooming and image projection that simply cannot be ignored. In its simplest form, it is the things people do to make themselves attractive - being clean, tidy, neat. It also includes activities related to priming and preening, and various forms of cosmetic care. To many people, it refers to the regular maintenance of ones physical appearance such as our hair, face, hands and other parts of the body. Personal grooming also comprises the activities of getting ready prior to going out for the day or night, such as selecting appropriate outfits for the right occasions, matching accessories, cosmetic makeup, etc.
While maintenance of ones physical appearance is important, we should also look beyond maintaining that physical faade and learn how to groom ourselves on a social level. This is the part where you impress people with your social skills. Personal grooming is divided in two categories Physical Grooming and Social Grooming. Read on to find out more about the two different aspects of personal grooming.
2.
Physical Grooming
1. Hair wash regularly and keep it at a manageable length and style. Many people have been bought by the myth of not washing the hair every day to keep them from falling out, or that daily washing is too drying for the hair. Different people have different needs - some need to wash their hair daily; some twice a week. Run your fingers through your hair. If its not silky smooth, its time for a wash. 2. Nose - Make sure the nostrils are clean before you step out of the door. If you have allergies, keep tissues and a pocket mirror with you always. 3. Facial hair It is fine for men to have facial hair, as long as the hair is neatly trimmed, and free of debris. Make sure it is of a shape that complements the face. Think about the message your hair is communicating. Facial hair on a woman, however, is not a pleasant sight, as it is not associated with being feminine. I have seen too many women with a soft moustache. Pluck them. Wax them off. Shave them. You want people to see you and listen to you, not distracted by your hair. 4. Nails clip your nails regularly and keep them clean. Brittle nails may be a sign of body deficiencies. 5. Teeth brush your teeth at least twice a day and floss regularly. Rinse your mouth after each meal. If you smoke, use mouth fresheners or chew gum after your cigarette. 6. Attire always try to choose the appropriate attire to match the occasion. Ensure that clothes are clean, well-pressed, neat and presentable what you are wearing and how you wear it inevitably says a lot about you as a person. As a general guide, it is always better to be overdressed than underdressed. For example, if you arrive at a party and find that a suit and tie is not required, you can always take it off. It is much better than going in shorts or jeans and then realizing
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everyone else are in their tuxedos. The same, for example, could apply for ladies who can get rid of their coats and accessories as a dress-down technique. 7. Makeup choose appropriate makeup for the right occasion (e.g. less bright lip colors are usually more suitable for office environments). 8. Hair colour hair dyes should not be too dark or light from your natural hair color. Extreme colors should be avoided in most occasions (e.g. work environment) unless of course your job specifically calls for it (actors, fashion designers, artists and models are exempted!)
Some people are more prone to body odour, a condition known as hyperhidrosis. These are just some ways to prevent body odour: 1. 2. 3. 4. Take showers daily, once a day or more if possible Apply talcum powder after shower Use deodorants and anti-perspirants Use perfumes and colognes to smell good as well as mask bad body odours
At some point or another in our lives, we have all met people with bad breath. Many of us might even have it and constantly feel embarrassed by it, or become very conscious of it. Worse still, some of us might not even know that we have it (more often than not, people are too embarrassed to tell the other person, which exacerbates the problem). There are many reasons for bad breath, including certain foods we eat, drinks we consume, medications we take, or medical conditions such as respiratory tract infections, chronic bronchitis, diabetes, gastrointestinal conditions, etc. If you are suffering from bad breath, not to worry. Here are some ways to improve your breath: Brush your teeth after each meal Floss regularly, two to three times a week Use mouth wash regularly Visit your dentist regularly (many dentists recommend twice a year) Reduce or stop smoking, if you do smoke Chew gum (besides tasting good and refreshing the breath, chewing gum circulates the saliva in your mouth and helps prevent tooth decay) Check beforehand if the company allows chewing gum while in the office. As an alternative to chewing gum, you can keep a stock of Cloves and Cardamom with you for chewing after meals or also in-between.
Regardless of age, size or shape, most of us should exercise regularly and we all know it. Not only does exercise bring the obvious benefits of strengthening muscles and keeping illnesses at bay, it also tones the body so that we can all fit into our favorite clothes (and more importantly, look good in them!). Exercise also has a positive effect on social personal grooming. It prevents or reduces depression and anxiety, improves psychological well-being and increases confidence levels.
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Diet and exercise are inextricably linked. Eating well helps to feed the muscles and give the body what it needs to function at its optimal level for that feel good effect. Eating well also promotes good health and vitality after all, You are what you eat . A healthy diet and regular exercise naturally brings good health, something that money cannot buy. Good health allows you to more actively pursue all your personal development needs, including building wealth, advancing your career, or spending quality time with your family and loved ones. If you have not been eating well or have been a couch potato for way too long, then make the decision to treat your body right today. But remember to be patient and work hard at it consistently. Although you will see some instant results like increased energy levels, it does take time to see the full benefits of a sensible diet and exercise plan. Keep at it and you will soon feel good enough to be able to project a more positive, confident image.
These days, makeup is an integral part of a womans life. Most women put on makeup (for many it is a daily ritual), or would have put on some makeup at some point in their life. Cosmetics have become so commonplace that today it is not unusual for men to wear it as well. Foundation and lip gloss are two popular aspects of makeup that men go for these days.
Always try to choose the appropriate attire to match the occasion. What you are wearing and how you wear it inevitably says a lot about you as a person. Different styles are more suitable for certain body shapes than others. You should also consider what styles suit you and ensure that you steer clear of those that do not. Make sure that the color suits your complexion as well.
3. Social Grooming
Though physical grooming is important (people often form their first opinions based on appearances alone), good looks arent everything. You will also need to have equally impressive social skills to continue living up to expectations. This is because, following first impressions, people can immediately form an opinion of your level of sophistication, intelligence, credibility or professionalism, level of knowledge etc. within the first minute or so of a conversation with you.
Poor verbal and non-verbal (eg. body language) communication can often lead to misunderstandings and strained relationships. How you communicate has a major impact in your everydays dealings. Good verbal communication helps you to: Get on well with others Get your messages and points across Get the things you want Avoid potential misunderstandings and conflicts Solve problems
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Both verbal and body language are key to effective communication. Eye contact, body posture, smiling, listening and the first handshake are all important aspects.
To be able to engage in effective and lasting conversation, it always helps to have sufficient knowledge in the field of discussion. As Sun Tzu famously said, Know yourself and your opponent, and you will win a thousand battles. Although we are not literally going to war each and every time we have a conversation, it always helps to have related information and facts to support our points of view.
Social etiquette is considered by many to be a set of conduct, decorum, or in general, social behavior . Etiquette is an important part of social grooming. Social etiquette is by no means a preserve of the rich and glamorous there is definitely a need for everyone to behave gracefully, and especially so in public. We need to observe different basic social graces depending on the environment (eg. in subways, while dining, while speaking on the cell phone, etc).
4. Formal Dress Code Guidelines For Men & Women

In a formal business environment, the standard of dressing for men and women is a suit, a jacket and pants or a skirt, a dress or any Indian wear such as Saree, Salwar Kameez paired with appropriate accessories. Clothing that reveals too much cleavage, your back, y our chest, your feet, your stomach or your underwear is not appropriate for a place of business. In our work environment, clothing should be pressed and never wrinkled. Torn, dirty, or frayed clothing is unacceptable. All seams must be finished. Any clothing that has words, terms, or pictures that may be offensive to other employees is unacceptable. Formal Business Attire Recommendations This is an overview of appropriate formal business attire. The lists tell you what is generally acceptable as formal business attire and what is generally not acceptable as formal business attire. No dress code can cover all contingencies so you must exert a certain amount of judgment in their choice of clothing to wear to work. If you experience uncertainty about acceptable, professional formal business attire for work, please ask your supervisor or your Human Resources staff. Suit to Start Suits are the foundation of any formal business wear. For a formal business event, wear a well tailored, fitted suit with a buttoned jacket and matching bottom, such as a pencil skirt, a conservative dress or slacks. Conservative Shades and Fabrics
There is a color code when it comes to formal business wear and this applies to women in particular, since there are many more varieties of colors and textures available in womens clothing. Stick with black or as close to black as possible. Safe bets include grey, brown and navy. You may be able to wear white, beige, maroon or deep green depending on the cut and styling of the suit. The only time colors such as pink or light purple can be worn professionally is with high-end designer suits crafted in tweed fabrics such as the classic Chanel suit. Do not wear bold patterns.
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Slacks, Pants, and Suit Pants Slacks that are similar to Dockers and other makers of cotton or synthetic material pants, wool pants, flannel pants, pants that match a suit jacket, and nice looking dress synthetic pants are acceptable. Inappropriate slacks or pants include any that are too informal. This includes jeans, sweatpants, exercise pants, Bermuda shorts, short shorts, shorts, bib overalls, leggings, and any spandex or other form-fitting pants such as people wear for exercise or biking.
Skirts, Dresses, and Skirted Suits Dresses, skirts, skirts with jackets, dressy two-piece knit suits or sets, and skirts that are split at or below the knee are acceptable. Dress and skirt length should be at a length at which you can sit comfortably in public. Short, tight skirts that ride halfway up the thigh or skirts that are flared, sheer, clingy are inappropriate for work. Mini-skirts, shorts, sun dresses, beach dresses, and spaghettistrap dresses are also considered as inappropriate. If youre wearing a skirt, you must wear stockings.
Shirts, Tops, Blouses, and Jackets As long as you avoid low-cut collars, Button up Shirts, dress shirts, blouses with neckties or scarf ties, sweaters, most simple non-sports tops without loud patterns and colors and turtlenecks are acceptable attire for work if they contribute to the appearance of formal, professional dress. Most suit jackets or sport coats are also desirable attire for the office. Inappropriate attire for work includes tank tops; midriff tops; shirts with potentially offensive words, terms, logos, pictures, cartoons, or slogans; haltertops; tops with bare shoulders or plunging necklines; golf-type shirts; sweatshirts; and t-shirts.
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Shoes and Footwear Sports shoes are obviously out of the question here. Athletic shoes, tennis shoes, thongs, flip-flops, slippers, and any casual shoe with an open toe are not acceptable in the office. Conservative walking shoes, dress shoes, oxfords, loafers, boots, flats, dress heels, and backless shoes are acceptable for work. Not wearing stockings or socks is inappropriate. If youre wearing high heels, do not wear heels higher than 3.5 inches and do not wear high platforms and sandals. Whether or not you want to wear heels, make sure the dress shoes you wear with your suit does not reveal your toes. Many women make the mis take of wearing peep-t oe or open-t oe shoe s with their formal business suits, thinking that a s long a s the shoe s are black, sho wing their t oes is okay. This is not the case. It is absolutely inappropriate to reveal your toes in a professional environmentwear closed toe shoes, pumps, or ballet flats with your suit. Also, keep your shoe color conservative and matching with the rest of your outfit. Remember, shoes should always be clean, comfortable and polished.
Accessories and Jewelry Dressing for success includes more than just choosing the right outfit. To complete your professional look you must also consider accessories and personal grooming. Tasteful, professional ties, scarves, belts, and jewelry are encouraged. Jewelry should be worn in good taste, with limited visible body piercing. For Men - Match your belt to your shoes. This one is really simple and makes a world of difference. If you are wearing black shoes, you dont wear a brown belt. Nobody is saying that you need to be a fashion plate, but this basic tip makes everything you wear look that much better. The biggest distinction between womens and mens formal business wear is the absence of ties for women. Without ties, women have other choices such as necklace, scarves, or brooches. Do not over accessorize unless you are the eldest or of high authority at the formal business event, or attempting to achieve a very wealthy and powerful look. It is better to wear no jewelry at all, than to wear too much jewelry. But all business women should at least wear a nice, conservative wrist watch. The younger you are, the more streamlined your look should be. A simple strand of pearls, one brooch at the chest, or an elegant pocket handkerchief is just right to go with a formal business suit. Keep rings to a minimum. Go with conservative and classic styles when wearing jewelery, not fashionable, flashy pieces. Also, for whatever jewelery you choose to wear, make sure it stays in place and does not fall apart with wear.
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Makeup, Perfume, and Cologne A professional appearance is encouraged and excessive makeup is unprofessional. Keep it simple and appropriate for daytime. Wearing no makeup at all is almost as bad as wearing too much makeup. Remember that some employees are allergic to the chemicals in perfumes and makeup, so wear these substances with restraint. Never smell like smoke (if you smoke in a car, your clothing will always pick up the odor). Women often use their hands to talk with so they become a focal point. It is important to have hands and fingernails looking professional not like you are heading out for a wild night on the town. Nails should be clean, and trimmed or sculpted. Avoid wearing unusual or shocking nail colors. Nail art and nail jewels are not acceptable for business meetings. Hairstyling : Style should be neat and conservative, and preferably off the face. With few exceptions, hair color should not be shocking or unusual. Hair sprays and gels that have a strong scent or odor should be avoided.
Demonstrating that you care about your personal appearance communicates to the person you are meeting with that they are important to you. Paying attention to the details of your appearance sends a message to others that you will also pay close attention to business details, and the needs of your customers and clients.
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5. Back to the Ba sics | 10 Fundamen tals of a Mans Wardrobe

Build-ing a wardrobe that wont go out of style is a long term invest-ment, help-ing to keep your cloth-ing bud-get in line while look-ing your best. The first step, how-ever, is under-stand-ing the basics, the fun-da-men-tals in which to build from. You nee d to rely on a few stock items that can be used for any sit-u-a-tion. Fol-low-ing are the 10 must have, absolute, fun-da-men-tal items that every man should keep 1. A suit (gray or navy)
Every man needs at least one suit, so make it gray, though, navy is a good sec-ond choice. Gray works in the office, an inter-view or an emer-gency when you need to look your best. Navy or gray suits are classic and neutral and can be dressed up or down. You can even wear the blazer with khakis or jeans. This is an item worth spending some money on. If you can afford one suit, make sure its qual-ity and con-ser-v-a-tive. Two or three but-ton, sin-gle breasted suits look good on nearly every body type. Avoid pleats and go for flat front pants. Make sure every-thing fits com-fort-ably because you will own it for a long time. 2. Black shoes and belt
A good pair will match with most - these can be worn with khakis, jeans and your suit (except brown). This is an essential combo. Before buying brown, get black and you cant go wrong with a lace up look. I think you will find you get more mileage out of them, especially when attending more formal or evening functions. Theyll be used a lot, such as work or any occa-sion that calls for some for-mal-ity. There-fore, take the plunge for qual-ity with fine leather and stitch-ing from a rep-utable brand. Avoid square toe and look for some-thing rounded. To main-tain your pricey pair, make sure to get a qual-ity set and shoe pol-ish. 3. White dress shirt (good for day and night occasions)
White dress shirts look good on just about everybody. They look sharp and are versatile and also give you a dressed up appear-ance but should not to be worn as a casual shirt. Dont skim on the qual-ity because this shirt will get a lot of miles and needs to last. Make sure the fab-ric is strong, such as 100% cot-ton. Avoid but-toned col-lars because this will limit its ver-sa-til-ity, look-ing too casual. 4. Solid tie - Solid ties are easy and versatile. If solid isnt your thing, try a classic diagonal stripe. Having several tie patterns on hand will ensure y ou are prepared for interviews, meetings and professional evening events. 5. Blue blazer - Noth-ing is more ver-sa-tile and good look-ing than a well cut, well made sports coat or blazer. A blue blazer is good for all year round and easily coordinates with khakis and other items. Navy blue works well with any-thing, eas-ily going with jeans, a polo or but-ton down. There are many styles to choose from, but avoid a blazer with gold or brass but-tons. Look for some-thing made of medium weight, worsted wool so you can wear it all year. As for the cut, keep it sim-ple: no dou-ble breasted or four but-ton styles. Select a clas-sic two but-ton with a sin-gle vent in back and medium width lapels. If that bores you, try a tweed sport coat but also keep in mind that tweed is really only useful in winter. Either way a blazer or tweed sport coat holds a look together.
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6.
Khakis and jeans Jeans are a staple of any wardrobe. Khakis are the same. Jeans can be worn at a nice restau-rant, most work places that dont day trade and that night club too. Go for some-thing with com-fort, qual-ity and no rips. Avoid baggy and skinny, but just right.
Khaki/Chino pants These do well in the sum-mer, run-ning errands any day of the week or beat-ing that dead-line at work. You need to own at least one or the other. Typ-i-cally, khakis are the more casual style of the two. Chinos are usu-ally a lighter shade and with a straight through fit. So it depends on what youre look-ing for. Both should be 100% cot-ton twill and a flat front. If theyre long, you can roll them up or get them hemmed. 7. V-Neck Sweater The V necks shape gives space for your col-lar, let-ting it open up nat-u-rally. This looks great over any dress shirt but also works well with a polo or T shirt. Choose a sweater with ribbed cuffs, col-lar and bot-tom, fit-ting your build, so its not loose or floppy in appear-ance. The V needs to be large enough to fit over a col-lared shirt but also small enough to fit over a T shirt. If you plan to have one or two, select darker col-ors so it matches with every-thing, such as gray, navy blue or choco-late brown. 8. Athletic wear
- Even for non-athletic types, athletic wear is great for those lazy Sundays and dashes to the convenience store at wee hours of the morning. 8. Sneak-ers its nice to relax in a clas-sic pair of sneak-ers after work, hang-ing out with friends or walk-ing around town. Its impor-tant to get a sub-tle color that can match well with jeans, chi-nos or any type of casual pants. Theyre not expen-sive so you can get a pair of white for the sum-mer and some-thing darker for spring and fall. Avoid any-thing with loud col-ors or flashy labels as these will become use-less after the fad fades. 9. Polo Shirt Another item that works well in many sit-u-a-tions. Polos are a great sum-mer shirt but also suit-able for happy hour and wher-ever else your night may lead you. They come in a vari-ety of col-ors but for a basic col-lec-tion, start with navy blue, gray and dark green. Again, this is going to last a long time, so look for qual-ity and com-fort. Go for a slim-mer fit polo with a soft fin-ish, but ulti-mately, there are so many options its up to you. As tempt-ing as it maybe, dont pop your col-lar or but-ton the top button. 10. Watch This is the only acces-sory that made our list because its the most impor-tant. These days, guys use their cell phones to tell time, but when you have a clas-sic rock on your wrist, noth-ing bet-ter reflects your per-son-al-ity along with a per-sonal state-ment on your style. Its a wor-thy invest-ment, some-thing that should last, but tread care-fully because there are many options. The watch should be qual-ity, mas-cu-line, but most impor-tantly, some-thing you feel com-fort-able wear-ing. Metal and leather bands are clas-sic, but gros-grain is great for a casual look. Keep your sports watch away from the office. A word of advice: start simple and expand according to lifestyle. Classics dont mean boring. Real style comes from within. It is having the confidence to get organized, being a ruthless editor and trusting your own creativity. If you feel great, then youll look great - whether your outfit cost 1000 or 10000. Ultimately, be true to yourself.
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6. Must Haves for a w oman :

Whether youre into fashion or not, there are it ems that a woman must have in her wardrobe. Whatever your lifestyle, these items will simply make your life easier and help you look more organized and well put together. They are alw ays in need and they are all-season items for the woman who wants to look her best on whatever occasion, season, or time. They are the classic must-haves that will serve as the backbone of your wardrobe . Trends will come and go, but these are the items that will loyally serve you year after year. 1. Business Suit : With a business suit for any professional event, be it interview, business meeting or a plain working day, you can never go wrong. Wearing the right suit commands and projects respect whether it is in a professional or personal situation. Arriving at an event or meeting in a suit conveys a subtle, but powerful message you are there to focus on the matter at hand. The best bet is to have a black suit which is tailored to your size and shape. In case you can afford to have more than one suit, look for a lighter color as in steel gray or beige and a different pattern just to add a different look. Team up your suit with shirts, turtlenecks, dress shirts, blouses with neckties or scarf ties, sweaters etc.
2. Black Pants - Look for a slim fit and make sure the hem falls just an inch or so above the floor. You dont want your pants dragging along the floor as you walk. And unless you are 62 and very thin, avoid too many pleats or pockets, as these tend to add bulk where we really dont need it. You know the archetypal Indian figure, right? We all understand fully well that if we do not take care, were going to be more or less volup tuous with a tendency to gain weight on our lower halves. Actually, EVEN if we take care, its hard to look like a stick insect with our usual physical characteristics. Say hello to wide-leg trousers. This is another item that women stole from men and wore it better . If worn with style, wide-leg trousers can hide a multitude of flaws in the figure. Usually, a fitted shirt is the best option. For shorter women, these trousers are a blessing because they not only make your lower half look slimmer, they add length too. For both length and illusion of slimness, wide-legged trousers with narrow vertical stripes are probably the best option. Just avoid pockets on hips. Youre trying to hide the flaws, not make them scream, Hey people, look at me! 3. Classic White Shirt - This perennial favorite will never go out of style. Paired with denim or a slim pencil skirt, the button-down white shirt exudes elegance. Invest in a well-tailored classic white shirt that has a collar . It can be worn under suits, cardigan sweaters, jackets or alone. I suggest finding a shirt that hugs your curves, but has some stretch in the material so that it moves with you.
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4.
Tops / Blouses - Get colors that will go with the suit and pants that you buy!
The great thing about knit tops is that they can be dressed up for day or night with accessories. They can be worn under sweaters, blazers, or with a simple pair of denim jeans to go out for the evening. Choose four knit tops that will coordina te with the rest of your wardrobe colors and you should be all set when it comes to creating some great outfits.
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5. Shoes - you will need few different styles of shoes to ensure that you have a perfect pair for every occasion and every dressing style. Here are the least that you need to have. You will need one of each of the following styles: Ballet Flats these are best suited for ease, comfort and weekend casual. Theres a certain insouciance to the ballet flat that says, clearly I know my way around the fashion block, but I just dont have to try so hard to look fabulous. Get a Color That You Can Wear With Black - Gray Brown Admit it. India just isnt high-heel friendly unless you are a dollar billionaire and dont need to step out of that chauffeur driven Lexus of yours. We all need flat shoes for days that we need to walk a little to the market or drive our car or go to a college fest or to run after that toddler who just wouldnt keep still at an outing. Ballet flats are one of the few shoes, which are both comfortable AND elegant. If it was good enough for the impeccably stylish Audrey Hepburn, it ought to be good enough for you.
Black or Metallic Strappy Heels Choose a pair to go with that cute little black dress, the suit, and the jeans that you purchase. They are a must-have in summer!
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Brown or Black Pumps Stylish black pumps are the single most important piece of footwear that any woman can buy. So make sure that the pair you choose fits you perfectly and are ultra-comfortable. They will work for any season and youll likely be spending countless hours in them throughout the year. Invest in a pair that does double duty as an office and evening shoe.
6. Denims - There is a very good reason that Yves Saint Laurent once mused that he wished he had invented the blue jean. A well-fitting pair of jeans flatters most body shapes and can easily be dressed up or down depending on ones mood. A great pair of jeans can be accessorized a million and one ways with what you already have in your closet.
Every woman needs a great pair of figure-flattering jeans. Really, what more needs to be said??
7. Smart Jacket / Blazer - Find one with a proper, fitted shape. Your jacket should follow the silhouette of your body and accent the hourglass curve at your waist. It is also a perfect piece to pair with the pencil skirt, black pants and white shirt. Or make it casual with a pair of jeans. A great Jacket can embellish just about any outfit perfect. When selecting one, be sure that the arms are long enough to cover your wrists, that the jacket accentuates your waste, and that it fits properly in your shoulders.
A blazer is the perfect proof of the theory that makes the world go round what men can do, women can do better. We stole this piece of wardrobe from men and still wear it with amazing style. In Indian weather, a blazer is your best bet for those pleasant months of November and February when its not too cold, but theres still a nip in the air. Its unique, it can be both formal and casual, it can be charmingly androgynous, and best of all, it can make you look both sexy and smart. In a world of pedestrian looking cardigans and pullovers, a blazer makes you stand out wonderfully.
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8.
Patiala Salwar and Kameez This can be a VERY classic item. Unlike a regular salwar, which is basically like a loose pajama, a Patiala salwar with its many wonderful pleats can instantly transform an outfit. Team it up with any kind of kurta and voila, you are the epitome of Indian chic! You can buy one Patiala salwar each in both black as well as white and not have to worry about your everyday Indian ensembles. As for your kameez, you can keep few colored ones which you can team up with either Patiala salwars or even with your denims for casual look and your dress pants for formal look.
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9. Saree and matching Blouse Whether you like this piece of clothing or not, there are numerous occasions in a womans life where she will have to done this. And if you perfect the art of draping it, this can instantly transform you from a plain Jane to a classy, stylish and elegant lady. This can stand the tests of all time and can actually make other formal, casual, or even a party wear look dull. This is one of the most favorite Indian attires and is something no Indian womans office wardrobe is complete without. Ensure that you have at least few of these in your wardrobe with matching blouses that are not too flashy but fit well - be it Calcutta cotton saris, saris with Lakhnawi Chikan work on them, easy to maintain saris made of synthetic materials. As far as possible, refrain yourself from wearing heavy silk sarees to work. They are best left for functions and festivals.
10. 1.
Accessories : Versatile tote:
The most important accessory for the professional woman is a tailored tote that projects the organized image. It should have classic styling and be a neutral color that will coordinate with most of your wardrobe pieces. Avoid trendy styles and think tailored and classic!
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2.
Silk Scrves
Have you been to Paris? If yes, high five. If not, go and Google pictures of French women. The best way to understand the value of a scarf is to observe French women on an any given day. Youll truly understand the real meaning of a scarf as a style accessory scarf tied to a handbag, scarf used as a belt, scarf as a headgear, scarf in the neck, scarf even worn as a top! Go all the way and have fun!
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3. Watch
If you are not a jewelery freak, you must have at least a decent watch to wear on your hand. Invest in a precious metal or at least a decent brand steel watch. Get a classic look. 4. A pair of stockings
In case you are wearing a skirt suit to work, you must be wearing stockings inside. You can have a pair of skin toned stockings to begin with. 5. Shades
We definitely need sunglasses in India and nobody can deny this as a fact. The important question is which style to choose aviators or wayfarers? Which one of these two you choose will depend totally on your personality and style. Just keep it away from bling. Nothing kills a good pair of aviators/wayfarers than poseur kind of reflective glasses. 11. Make-up Kit
This is one item that nobody needs to explain. Its a must-have for every girl on the go and you can stuff it with different items as per your need.
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1. Face Wipes/Wet tissues: Bare Essentials or Kara wipes which also remove make-up, theyre really good. 2. Compact/Face Powder: This is also a very important product for touch-ups or if you need to re-do your make-up. 3. Blush and Kabuki: A blush is an instant pick-me-up, if you dont have time to use a lot of products, just dab on some blush with the help of kabuki and youre all set. 4. Lipstick and Lip Balm: It is recommended that you carry a separate lipstick, lipbalm, gloss etc, but actually you can carry just one of your favourite and youll be good to go. You can carry a lipbalm (for everyday use), lipstick (for a meeting) and a gloss (for a party straight from work!).
5. Kajal and Mascara: You can avoid stuffing your kit with loads of eye shadows by keeping it simple with a kohl and mascara for eyes. These are also quite essential as they work for both day and night. 6. The Extras: Throw in some more things, which are not so essential, but you might just need them and then regret not taking them with you. Perfume, Mirror Q-tips, Hairpins, hand sanitizer, nail filer (in case you break one) and blotting paper to remove the oily feel from your face as the day goes by.
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7. Make-up tips for Women Now that you have your make up kit ready with you, lets look at how best you can use the same for creating a perfect professional look. Creating a work-friendly makeup look can be tricky. While wearing too little makeup can appear unprofessional, wearing too much can look overdone. Start with a clean slate Every professional look begins the same with a clean, moisturized face. But for a face that glows with health from beneath makeup, most women need to go above and beyond just cleansing their pores. Choose the right cleanser, moisturizer and primer to prep skin for beautiful makeup that doesnt fade or smudge. A natural approach to workplace makeup
A polished and professional look starts with a glowing complexion. But achieving the natural look with makeup, without appearing pale or dull, is often harder than it seems. A foolproof makeup routine, appropriate for any business dress code, includes the right blend of subtlety and definition to enhance a womans natural features. The office-friendly method : Foundation : After covering any imperfections with a dab of concealer, use a sponge to apply a sheer layer of foundation all over the face. Eyeliner : Apply just enough eyeliner to make the eyes stand out, making sure the lines dont go outside the eyelids. Consider using a more conservative medium-brown or black/brown shade to create a softer look. Mascara: Give lashes extra oomph with dark brown or soft black mascara. Apply it with a fan brush instead of a mascara tool to keep it from clumping. Tinted lip gloss: Choose a fairly neutral shade of tinted lip gloss for a subtle pop of color. Gloss looks more natural on the face, fades more evenly than lipstick and is easier to re-apply throughout the day.
Great style is having the discipline to invest in just a couple of beautiful statement pieces each season and then mix these in with your above wardrobe essentials . As Coco Chanel so eloquently said, Elegance is refusal. Its not about constant acquisition; its about working with what you have in a confident and creative way. Only keep those pieces that make you feel really good. Play to your strengths: If you have great legs, wear skirts. If you have an hourglass figure, cinch your waist with fabulous belts. If you have beautiful skin and piercing eyes, wear accessories that draw attention to your face. Now thats great style.
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Crosswords, gap fillers, did-YoU-knows etC learning thrU fUn aCtivitY seCtion
CROSSWORD NO. 1
1 2
3 4 5
6 9
7 8 10 11
12 13
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15
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16 17
Across 1. rate and efficiency of work 4. ask the bank to advance money 6. money paid for a loan 10. wealth of person or business 12. promise to repair or replace 13. amalgamation of two companies 14. legal agreement 16. total sales of a company 17. share of profits paid to shareholders Down 2. proof of payment 3. put money into a company or business 5. money paid to owner of copyright or patent 7. part of the capital of a company 8. where shares are bought and sold 9. money lent 11. amount of money spent 14. neither cheque nor credit card 15. money returned N.B. There are no spaces between words.
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CROSSWORD NO. 2
1 2 3
Across 2 Money paid each week for the number of hours worked. 5 Matters relating to promotion and advertising. 7 The movement of goods from the producer to the consumer, often via shops. 8 One-off payments which can be seasonal (normally at Christmas) or relating to performance exceeding targets. Down 1 Anything owned which has a money value. 3 Money borrowed from a bank or building society. 4 A financial plan for future action which takes into account likely incomes and outgoings in order to create a framework for future spending. 5 Type of production (sometimes referred to as Flow) in which products are produced for a large market, not on a client-at-a-time basis. Examples would include production of magazines or toiletries. 6 Physical good which have been produced for consumers to purchase.
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CROSSWORD : BUSINESS ACTIVITY 2
1 2 4 5 6 3
7 8 9 10 11 12
13 14
Across 4. 6. 8. 9. 12. 13. 14. Down 1. 2. 3. 5. 7. 10. Selling of government owned business to private individuals containing name, address and nature of limited companies two businesses agree to work closely together on a particular project document concerned with internal working and control of business Liability is limited to the shareholding Cost of choosing the next best alternative decline in importance of secondary sector activities and increase in tertiary sector business involved in extraction of raw material limited companies who can issue their shares to general public businesses involved in manufacturing goods business owned and conlrplled by private individuals and groups importance of secondary sector manufacturing industries in developing countries businesses involved in providing services
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CROSSWORD : INFLATION
1 2 4 6 7 8 5 3
Across 2. 5. 6. 8. 9. Method of measuring inflation where the average price increase of certain commodities is recorded over time Inflation caused due to increase in Ihe price of materials and finished goods and services imported from overseas A sustained increase in ihe general price level over a period of time Inflation caused due to increase in cost of production Economist who believe that Inflation is caused due to increase in supply of money in the economy are known as
Down 1. 3. 4. 7. A very high rate of inflalion usually more than 10% pa Inflation caused due to increase in aggregate demand in Ihe economy A situation in an economy where inflamation and unemployment are rising together, mainly due to government policies In a price index the changes in price of the commodities are compared lo a particular year. What is it know as?
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CROSSWORD : COMPUTER HARDWARE
1 2 3 4 5 6 8 9 12 10 11 7
13
Across 3. 5. 10. 13. 13. Down 1. 2. 4. 6. 7. 8. 9. 11. A device for converting digital computer data to analog phone signals, and vice versa. An output device that produces output on paper An output device that displays information on screen. Brain of The computer Temporary working memory, accessed randomly. Smallest unit of data that can be stored. a pointing input device named after an animal What do laptops use instead of mouse? The main circuit board of a computer An input device that can convert printed test or graphics into computer files. Device used to feed data to the computer A type of device that shows processed information One million operations per second, a measure of CPU Speed.
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CROSSWORD : BUSINESS GROWTH
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Across 1. 4. 7. 10. Down 2. 3. 5. 6. 8. Type of integration where different firms producing from different industries combine Growth when one or more firms join together to form a larger enterprise Take over is also known as Type of integration when firms engaged in Ihe production of same type of good service combine A lype of Vertical integration that takes the firm near lo the source of raw materials Growth when a firm increases its own size by producing more under us existing structure Type of integration when firms engaged in different stages of production combine. When a company buys all or at least 50% of the shares of another company Lateral integration is also known as
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CROSSWORD : BUSINESS ACTIVITY 1
1 2
3 5 6
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7 8
Across 2 4. 8. 7. 8. 9. Down 1. 3. 4 5 an individual owning and operating a business on his/her own. business activity that provides services for consumers and other businesses. selling of government owned business to private individuals cost of a decision expressed in Terms of the lost benefit from the next most desired option. The selling up of a business enterprise by two or more firms, often with a specific regional or product responsibility sector owned by Ihe government a legal form of business organisation in which two or more people trade collectively. the purchase of a controlling share in another company Liability : Shareholders are only personally liable to lose their original investment in the company in the event of business failure sector owned by private individuals
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CROSSWORD : TYPES OF ORGANIZATIONS
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Across 1. 6. 8. 9. 10. Down 2. 3 4. 5 7. This type of business has only one owner Two separate businesses come together to start a new common business venture A limited company often owned by people who know each other, such as family and friends. The shares of these companies can be transferred freely to anybody through a Stock Exchange An agreement in which one business buys the right to sell Ihe goads or service, and use name of the other business Commercial business organisations where all the shares are owned by the government! This business involves between 2 and 20 people who are the owners of Ihe business. a business having its operations than more than one country The members of Ihis organisation own. conlrol and share profits. An advertisement living the public to buy shares in Ihe company.
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CROSSWORD : EXTERNAL ENVIRONMENTAL AND GROWTH
1 2 3 5 6 7 9 10 13 14 15 11 12 8
Across 2. 5. 8. 9. 13 14. 15. Down 1. 3. Typeof economy where government interference is minimum Businesses diversified across different industries Another name lor multinationals .... integration, when firms in the same industry and same siage of production join together integration, businesses in same industry and different stage of production. Increase in effectiveness, efficiency and profitability due to integration Businesses manufacturning and selling goods in more than one country Agreement between two businesses to join Together to lorm one united business. Growth expansion of a business by means opening new branches, shops and factories
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CROSSWORD : MOTIVATION
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7 11
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Across 4. 9 10-. 11. 12. Down 1. 2. 3. 5. 6. 7. 6. Pay which is related to the effectiveness of the employees Reason why employees want to work hard for the business A system whereby a proportion of the companys profit is paid OuL lo employees Payment for work, usually paid weekly It is a method of assessing the effectiveness of an employee Based his ideas on the assumption that all individuals are motivated by personal gains Workers snapping round and doing each specific task for only a limited Lime and then changing round again Non monetary rewards given to employees Involves looking at jobs and adding Tasks that require more skill and responsibility Payment method on the basis of period of time of work _______group, is a group designated to carry out specific tasks within a business gave The famous theory of motivation hierarchy of needs
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CROSSWORD : ADVERTISING SLOGAN
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8 9 14
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Across 2. 4. 7. 9. 12. 13. 14. 15. 16. Buy it. Sell it. Love it Lets make things better Come on. lets fly see what you can do Be inspired Wii would like to play Just do it Connecting people Its good to play together
Down 1. 3. 5. 6. 8. 10. 11. its in the game The king of beer a car you can believe in Don't worry. Theres no Sugar Australian for beer Where do you want to go today Hello Moto
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CROSSWORD : MARKETING 1
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10
Across 1. 4. 5 7. 8. 9. 10. Down 2. 3. 5. Business whose main focus is on fmdjng out customers need and satsfying them Management process of identifying & satisfying customer needs and wants Term used to describe all the activities which go into marketing a product. Where the markel is divided into groups of customers who have similar needs Place where buyers and sellers come together to exchange products A technique u&ed to analyse the strengths & weaknesses of a product or company ________ Research : collection and collation of original date Business whose mam focus of activity is on the product itself Set of questions to be answered as a means of collecting daia ________ Research : use of information that is already available
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1 2 4 5 6 7 8 9 3
10
11
Across 2. 4. 5. 8. 9. 10. 11. Down 1. 3. 8. 7. Groups of people who agree To provide information about specific products A feature which gives product a distinct personality Stage where sales increase slowly, competition intense & profits at highest Research technique consisting ol recording, watching and auditing activities. _________ Sample; people are selected on the basis of certain characterstics. A unique name of a product that distinguishes it from others Stage when new life is infused in the product Through change in product, price & promotion Research technique appropriate for new products and giving free samples to test Ihe response _________Sample; people are selected at random as a source of informaton. Consumers keep buying the same brand again and again Stage when sales grow rapidly, profits start to be made
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1 2 3 4 5 6 7 8
Across 2. 5. 5. 7. 9 Down 1 3. 4. 5. 8. Informing and persuading customers by giving personal attention Putting prices in line with your competitors prices Pricing where particular attention is paid to the effect on customers perception Advertising trying to persuade the consumer to buy the product Where a high price is set for a new product on the market Price is set lower than Lhe competitors prices in order to be able to enter a new market When a product is sold at a very low price for a short period of time. _____model; a way of planning an adverts design. cost of manufacturing the product plus a profit mgrh-up Advertising emphasising on giving information about the product
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CROSSWORD : PRODUCTION
1 2 4 5 6 7 8 10 11 9 3
12 13 14
Across 2. 5. 6. 8. 9 11. 12. 13. Down 1. 3. 4. 7. B 10. 14. continuous improvement margin of time between the date stock received and the date when sold. system of ordering used alongside JIT production Difference between the cost of inputs and final selling price melhod eliminating the need to hold stock method where large quantities of a product are produced acronym for Computer aided designing. output measured against the Inputs producNon done by machines but operated by people production lechmques used by business to cut down any waste production melhod where single product is made at a time acronym for Total Quality Management production method where, the production line is divided into separate units method where quantity of a product made at one time. benefits of producing on large scale
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CROSSWORD : GOVERNMENT MACROECONOMIC POLICIES
1 2 4 5 6 7 8 9 3
10
Across 2. 6. 8. 9. 10 Down 1 3 4. 5. 7 It involves removing old and unnecessary rules and regulations on business Supply side policy involving the sale of public sector activities to the private sector. These policies aim at raising aggregate demand in the economy. Fiscal policy that is used to reduce aggregate demand by reducing public spending and/ or raising taxes. Governments banks which controls interest rates in an economy Apart from supply of money, what is controlled as a part of monetary policy? Policy controlling inllation through changes in public spending and taxation Policy which uses the interest rates to control spending by firms and consumers. A situaiion when private sector may find shortage of funds due to increased investment in public sector Fiscal policy which aims at increasing public spending to boost aggregate demand, output and employment.
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FILL THE GAPS WITH THE RIGHT CHOICE OF WORD FROM GIVEN WORDS
BUSINESS OBJECTIVE
Organisations in the (1)__________ sector are usually created to earn maximum (2)__________ for their owners, i.e. to achieve the best possible return on the money which they have invested in the (3)__________. However whilst this will certainly be the main (4)__________ of most businesses, some may have other objectives which they pursue. For example, a new business may see (5)__________ as its main (6)__________ in its early years. This could then be followed by increasing (7)__________ share in the long run. A couple of short term objectives such as (8)__________ sales and market share may lead to (9)__________ term objectives such as (10)__________ of scale.
aim market
business objective
economies private
increasing profits
long survival
COST OF PRODUCTION
The (1)______________ of any firm are made up of their fixed costs and variable costs. (2)______________ are those costs which do not vary with the level of output. For example, if a firm rents a factory for $200 per week, this cost is the same whether it produces 200 items or 1000 items. Other examples of fixed costs include (3)______________, telephone bills, heating and (4)______________ re-payments. (5)______________ are those expenses which do not vary directly with the level of (6)______________. The buying of materials to make goods will be a (7)______________ cost. Wages will also increase if workers have to work longer hours to produce more, or if more labour is hired by a firm. Variable costs appear as an (8)______________ sloping line on a graph whereas fixed costs appear as a straight (9)______________ line on a graph. Fixed costs output horizontal total costs loan upward machine variable hire Variable costs
COSTS
The (1)____________ of production in a business are divided as Fixed costs and Variable Cost. (2)____________ are payments that must be made whether or not the business (3)____________ any goods. For example, a manufacturer must pay the rent for the factory even if there are no goods produced or sold. Fixed costs are also known as (4)____________. Variable costs change in (5)____________ proportion to (6)____________. For example, a manufacturer must pay for raw materials for every item produced. (7)____________ cost varies with the output. Another approach of dividing business cost is by their type and identifies whether they can be directly related to the final product or service of the business. This is (8)____________ and Indirect cost. Direct costs are those costs that can be clearly identified with the product or service being produced. Example includes direct labour,
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(9)____________ and direct expenses. Indirect costs are those that cannot be classified as direct costs. For example salaries given to office staff, (10)____________ and maintenance of assets. costs output depreciation overheads direct produces Direct cost raw material Fixed costs Variable
ECONOMIES AND DISECONOMIES OF SCALE

The scale or size of (1)______________ is usually measured by the number of (2)______________ produced over a period of time. If the scale of production increases, (3)______________ unit costs over most production ranges are likely to fall because the company will benefit fr om (4)______________ of scale. Beyond a point a company will start to find that inefficiencies push averag e costs up, and (5)______________ of scale set in. (6)______________ economies are cost savings that arise from the way in which large firms raise money. (7)______________ economies is cost savings resulting from the way in which firms sell their products (8)______________ economies are co st savings caused by the methods of production used. (9)______________ economies is cost savings that result from the way in which firms tries to reduce the risk of a fall in demand for some of their products. Diseconomies of Scale can be classified as: (10)______________ diseconomies results due to coordination problems among various departments within a firm. (11)______________ diseconomies may result from too much (12)______________. Workers may become very bored with their repetitive and often monotonous jobs.
average Management Technical units
diseconomies Marketing
economies production
Financial Risk bearing
Labour specialization
EXCHANGE RATE
When firms import goods and services they must also use (1)___________________ to pay the country they bought them from. The price of a foreign currency is known as its foreign (2)_______________. That is, its value in terms of other countries (3)___________________. Most currencies are allowed to (4)___________________ on the foreign exchange market according to the demand and (5)___________________ of each currency. When the value of a currency falls it is known as a (6)___________________ of its value. A rise in the price of a currency is known as an (7)___________________. Some governments have intervened in the foreign exchange market to fix their own value for their currency. This is known as (8)___________________ exchange rate. Sometimes due to changing international markets the governments have to lower the exchange rate which is known as (9)___________________. Governments all co ntrol the price of its currency by selling or buying of their currency which is termed as (10)___________________. Appreciation fixed currencies float depreciation devaluation exchange rate
foreign currency managed flexibility supply
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JOB SATISFACTION
There are several ways in which a business can increase the job satisfaction of its (1)_____________. (2)_______________ involves workers swapping round i.e. workers move between jobs. (3)_______________ gives workers more responsibility and involvement in the decision making process for a particular job. (4)_______________ means training workers to carry out a variety of jobs. Extra tasks and increased (5)_______________ are added to the workers job description.(6)_______________ can giv e job-satisfaction being part of a team and being involved in the (7)_______________ within the team gives the worker a feeling of responsibility and (8)_______________. decision making responsibility employees self esteem Job enlargement Job enrichment Teamwork Job rotation
LEAN PRODUCTION
Toyota was the first manufacturer to introduce (1)_______________ production. This uses a range of techniques to (2)_______________ waste and to improve productivity. All the employees are expected to be committed to (3)_______________ meaning continuous improvement. Workers are grouped into (4)_______________, each with responsibility for a certain part of the production process. This is known as (5)_______________. Workers are trained to do a range of tasks and become (6)_______________. They also receive (7)_______________ to improve their team skills. The workers have authority to make decisions relating to their own work also known as (8)_______________. Some producers have introduced (9)_______________, which involves breaking the production line into separate (10)_______________ unit each making an identifiable part of the finished product instead of having a flow production line. Workers often meet in groups regularly to discuss ways of solving problems and to make suggestion for (11)_______________ improvement. These are known as (12)_______________. cell production continuous multi skilled teams quality circles training empowerment reduce Kaizen self contained lean team working
MANAGEMENT STRUCTURE
The management structure for an organization describes the different (1)________________________, and how decisions are put into practice. This structure can be represented by an (2)________________________. An organization chart shows the (3)________________________ the way in which decisions are passed up or down the organization, from one level to the next and the (4)________________________ the number of employees for whom a person at a higher level has direct res ponsibility. A (5)________________________ organization is one in which there is a long chain of command. Different levels of the organization are known as (6)__________________. A flat organization has a (7)________________________ chain of command. chain of command short hierarchy levels of responsibility tall organization chart span of control
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PRICING STRATEGIES
(1)_______________ pricing means taking into account the costs of making the product. It is based on the (2)_______________ of producing the goods and a (3)_______________ of the indirect cost such as overheads rent, heating and so on. A percentage (4)_______________ is then added on to calculate the (5)_______________. In (6)_______________ based pricing the business sets its selling price at level simi lar to that of its competitors. In (7)_______________ pricing the business sells its product at a low er price that of its competitors. (8)_______________ pricing involves selling goods at a very low price to try to destroy competition. When a market chooses its price to take advantage of market conditions, it is said to be using (9)_______________ pricing. When the business sets its prices high to begin with, and then lowers the price later on, it is following (10)_______________ pricing. competition mark-up Cost plus penetration Destroyer percentage direct costs selling price market-oriented skim
PUBLIC LIMITED COMPANY

A Public Limited Company has (1)____________________________ at the end of its name, distinguishing it from a (2)____________________________ limited company. These shares of most public limited companies are bought and sold through the (3)____________________________. The shareholders have (4)____________________________ and can be held responsible only for payments up to the value of their shares. Like the private limited company, public company has its own (5)____________________________ status separate from the shareholders. The procedure for setting up a public limited c ompany starts with submitting (6)____________________________, document stating the company s name and address of the company along with the (7)__________________ giving details about how the company will be run. The (8)____________________________ will issue a (9)_____________________. After this the company can issue a (10)_______________________ an advertisement inviting the public to buy shares in the company. When the shares have been issued the Registrar of Companies will draw up a (11)____________________________; this allows the company to start trading. Article of Association legal Prospectus limited liability Certificate of Incorporation Memorandum of Association Stock Exchange Certificate of Trading plc private
Registrar of Companies
RECRUITMENT AND SELECTION PROCESS

Analyze the exact nature of the job and the duties to be undertaken also know as (1)______________. Design a (2)_________________. Design a (3)_________________. (4)_________________ the vacancy in a newspaper or any other appropriate media. Send out application forms to the applicants or read (5)_________________ and letters of application. Produce a short list from the replies of those who best match the employer s requirement. Conduct an (6)_________________ and take up references. Select suitable applicant and offer them the job. Reply to unsuccessful applicants. Organise (7)_________________ training for the successful applicants. Advertise job specification induction resumes interview Job Analysis job description
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STAKEHOLDERS
All business activity involves people. Groups of people who are involved in business activity are called the (1)_____________ of the business. (2)_____________ put money into the business to set it up. Without this capital, no business activity can begin. The owners will take a share of (3)_____________. All owners are taking (4)_____________. Workers are employed in the business. They expect a good weekly (5)_____________ or monthly (6)_____________. (7)_____________ is often matter of concern for the workers. (8)_____________ are employed by the business to control the w ork done by other workers. They give (9)_____________ to the workers, (10)_____________ the resources of the firm and take important decisions. (11)_____________ are those who buy the product or service of the business. They expect (12)_____________ quality and value for money. (13)_____________ decides on laws which will affect business activity. Government wants business to be successful because successful businesses will create more jobs and reduce (14)_____________. Moreover, the government will get (15)_____________ which it can utilize for the development of the country.
Business activity uses land and resources to produce (16)_____________ and (17)_____________. On one hand, where the business creates (18)_____________ it also produces harmful pollution. Therefore, the community may be concerned and may expect clean (19)_____________ and safe products for (20)_____________. Consumers Government organise services consumption instruction Owners stakeholders environment Job security profit taxes good jobs risks unemployment goods Managers salary wage
FLOW OF SOURCE DOCUMENTS

Rakesh owns a readymade garments shop. He needs stock and so he sends a (1)________________ to Vinod, his supplier. After receiving the order from Rakesh, Vinod delivers the required quantity of goods ordered. They send a (2)______________________ with the materials. Rakesh signs the document, the delivery man gives original and retains a duplicate. The delivery man also gives an (3)______________________ requesting for the payment of the goods delivered. When Rakesh checks the goods delivered, he finds some of the goods are defective. He returns the defective goods to the supplier. The supplier admits and issues a (4)______________________. Rakesh and Vinod have regular transactions on regular basis. Each month Vinod sends a statement of the value of deliveries made for that month, the value of any credit notes issued and any payment made by Rakesh. (5)______________________ from Vinod reminds Rakesh ho w much he owes. The statement is also accompanied by a (6)______________________. Rak esh will indicate on this slip which invoices he is paying. Rake sh can pay through a (7)______________________ or (8)______________________. After r eceiving the payment V inod issues a (9)______________________ indicating the payment has been made. cash cheque credit note Remittance delivery note advice slip Invoice Statement of Account
purchase order receipt
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FORMATION OF A LIMITED COMPANY

Anybody who is interested in forming a limited company has to follow a number of (1)___________ procedures. The promoters of the company have to fill in a number of documents and submit them to the (2)____________________________. One of the documents contains rules under which the company will be managed. It states the rights and duties of all of the directors, the rules concerning the election of (3)____________________________ and the procedure to be followed for the issue of (4)____________________________. This document is known as (5)______________________. Another important document is the (6)____________________________. This document contains the name of the company and its (7)____________________________. It also states the (8)______________ of the company and the amount of (9)____________________________ that the directors intend to raise. Once these documents have been submitted and cleared by the Registrar of Companies, the y will be issued a (10)____________________________, allowing company to start trading. Articles of Association Certificate of Incorporation directors legal Memorandum of Association objectives registered address Registrar of Companies share capital shares
RESOURCES ARE SCARCE

(1)________________ are important because they are used to make goods, like television, cars & houses and to provide (2)________________, like banking, insurance and transport. All of these resources are (3)________________. Any resource s that are not scarce are called (4)________________. Wants are (5)________________ but the resources used to produce the goods and services to satisfy these wants are (6)________________. That is, there is (7)________________. (8)________________ is necessary because scarce resources can be used in lots of ways to make different goods and services. The real cost of choosing one thing and not another is known as the (9)________________. Choice free goods limited opportunity cost Resources scarce scarcity service unlimited
AGGREGATE DEMAND
(1)________________ is the total of all planned expenditures in the economy, and (2)________________ is the total of all planned production in the economy. The aggregate demand curve shows the various quantities of total planned spending on final goods and services at various (3)________________; it is (4)________________ sloping. There are three reasons why the aggregate demand curve is downward sloping. They are the open-economy effect, the real-balance effect, and the interest rate effect. The (5)________________ effect occurs because price level changes alter the real value of cash balances, thereby causing people to desire to (6)________________ more or less, depending on whether the price level decreases or increases. The interest rate effect is caused by (7)________________ changes that mimic price level changes. At higher interest rates, people seek to buy (8)________________
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houses and cars, and at lower interest rates, they seek to buy more. The open economy effect occurs because of a shift away from expenditures on (9)________________ goods and a shift toward expenditures on (10)________________ goods when the domestic price level increases. AGGREGATE DEMAND AGGREGATE SUPPLY DOMESTIC DOWNWARD FEWER SPEND FOREIGN INTEREST RATE PRICE LEVELS REAL BALANCE
LONG-RUN AGGREGATE SUPPLY

There are two major views relating to the shape of the LRAS. The different beliefs about the shape of the LRAS curve lie at the basis of controversies about appropriate policies to be followed by (1)________________. The new-classical view ((2)________________ or free market view)
These economists argue that the LRAS curve does not respond to changes in (3)________________ in the long run and is determined completely independently of demand. Its position depends upon the quantity and productivity (quality) of factors of (4)________________. An expansion of AD will always lead to (5)________________ inflation and will not, in the long run, lead to growth in output and thus employment. So new-classical economists argue that national output may only be increased by adopting (6)________________ policies to shift the LRAS to the right. The Keynesian view (interventionist view) The shape of the curve that is known as the Keynesian LRAS shows (7)________________ possible phases. In region 1, the LRAS is perfectly (8)________________. Pr oducers in the economy can raise their level of output without higher average costs, because of spare (9)________________ in the economy. In region 2, as the economy approaches its (10)________________ output (Yf), and the spare capacity is used up, the available factors in the economy become more (11)________________. As producers increase output, they bid for the increasingly scarce factors and prices begin to rise. In region 3, when the economy is at full capacity, all factors are being used and so output cannot increase. Thus, LRAS is perfectly (12)___________. AGGREGATE DEMAND GOVERNMENTS SCARCE CAPACITY INELASTIC SUPPLY-SIDE DEMAND-PULL MONETARIST THREE ELASTIC POTENTIAL PRODUCTION
DEMERIT GOODS AND MERIT GOODS

(1)______________ goods are goods which are deemed to be (2)______________ undesirable, and which are likely to be over-produced and (3)______________-consumed through the market mechanism. Examples of demerit goods are cigarettes, alcohol and all other addictive drugs such as heroin and cocaine. The consumption of demerit goods imposes considerable negative (4)________ on society as a whole, such that the private (5)______________ incurred by the individual consumer are less than the (6)______________ costs experienced by society in general; for example, cigarette smokers not only damage their own health, but also impose a cost on society in terms of those who involuntarily passively smoke and the additional cost to the National Health Service in dealing with smoking-related diseases. Thus, the price that (7)______________ pay for a packet of cigarettes is not related to the social costs to which
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they give rise i.e. the marginal social cost will exceed the market price and (8)______________ and over-consumption will occur, causing a misallocation of societys scarce (9)______________. (10)______________ goods confer benefit s on society in excess of the benefits conferred on individual consumers; in other words, there is a divergence between private and social costs and benefits, as the social benefits accruing to society as a whole from the consumption of such goods tend to be greater than the private benefits to the individual. This divergence means that the private market cannot be relied upon to ensure an 11)___________ allocation of societys scarce resources. The problem is that individual consumers and producers make their decisions on the basis of their own, internal costs and benefits, but, from the standpoint of the (12)______________ of society at large, externalities must be considered. CONSUMERS MERIT SOCIAL COSTS OVER SOCIALLY DEMERIT WELFARE EFFICIENT EXTERNALITIES RESOURCES OVERPRODUCTION
INDIRECT TAXES & SUBSIDIES

An (1)___________________ tax is a tax imposed upon (2)___________________. It is a tax that is placed upon the selling price of a product, so it raises the firms (3)___________________ and thus shifts the (4)___________________ curve for the product vertically (5)___________________ by the amount of the tax. (6)___________________ will be supplied at every price because of this. Pr oducers and (7)___________________ wi ll, between them, bear the burden of any tax that is put on. The amount that each pays will depend upon the (8)___________________ of demand. 1. If price elasticity of demand (PED) is greater than price elasticity of supply (PES), then the producer will pay (9)___________________ of the tax. 2. If PED is less than (10)___________________, then the consumer will pay most of the tax. 3. If demand is (11)___________________, then the producer will pay more of the tax. 4. If demand is (12)___________________, then the consumer will pay most of the tax. This is why governments tend to place indirect taxes on products that have relatively inelastic (13)___________________, such as alcohol and cigarettes. By doing this, the government will gain high (14)___________________ and yet not cause a large fall in employment, because demand changes by a (15)___________________ smaller amount than the change in price. A 16)_____________ is an amount of money paid by the government to a firm, per unit of (17)________. The main reasons for subsidy are: 1. to (18)___________________ the price of essential goods. 2. to guarantee the supply of products that the government think are (19)___________________ for the economy. 3. to enable producers to compete with (20)___________________ trade, thus protecting the home industry. If a subsidy is granted to a firm, then the supply curve for the product will shift vertically (21)___________________ by the amount of the subsidy, because it reduces the (22)___________________ for the firm, and more will be supplied at every price. CONSUMERS DOWNWARDS INELASTIC OUTPUT REVENUE COSTS ELASTIC LESS OVERSEAS SUBSIDY COSTS OF PRODUCTION ELASTICITY LOWER PES SUPPLY DEMAND EXPENDITURE MORE PROPORTIONATELY UPWARDS INDIRECT NECESSARY
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PRICE CONTROLS MAXIMUM AND MINIMUM PRICES

The government may set a maximum (1)___________, below the (2)___________ price, which then prevents producers from raising the price above it. This is sometimes known as the (3)___________ price. (4)___________ prices are usually set to protect consumers and they are normally imposed in markets where the product in question is a necessity and/or a merit good. For example, governments may set maximum prices in agricultural and food markets during times of food shortages to ensure low-cost food for the poor or they may set maximum prices on rented accommodation to attempt to get affordable accommodation for those on low incomes. Maximum prices will, however, lead to (5)___________ demand. The (6)___________ may set a (7)___________ price, above the equilibrium price, which then prevents producers from reducing the price below it. This is sometimes known as the (8)___________ price. Minimum prices are mostly set for one of two reasons: either to attempt to raise incomes for producers of goods and services that the government thinks are important, such as agricultural products; or to protect workers by setting a minimum (9)___________, to ensure that workers earn enough to lead a reasonable existence. Minimum prices will, however, lead to excess (10)___________.
CEILING MAXIMUM
EQUILIBRIUM MINIMUM
EXCESS PRICE
FLOOR SUPPLY
GOVERNMENT WAGE
ECONOMICS AND ACCOUNTING. TRADING ACCOUNT

1. Trading Account reveals (1)__________________ profit or (2)__________________ loss. 2. Excess debit over credit in the trading account represents a (3)__________________. 3. Return outwards are deducted from (4)__________________. 4. Factory wages will appear in the (5)__________________ side of trading account. 5. Stock is usually valued at (6)_______________ price or (7)__________________ price, whichever is lower. 6. (8)__________________ equals to sales minus cost of goods sold. 7. (9)__________________cost of g oods available for sales less gross profit. 8. Trading account is char ged with all (10)__________________ expenses. 9. The closing stock at the end of the year is the (11)__________________ stock for subsequent year. 10. Sales are transferred to the (12)__________________ side of Trading Account cost direct market Cost of goods sold gross opening gross Purchases credit gross loss debit Gross profit
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DID YOU KNOW?

1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 20. 21. 22. 23. 24. 25. 50% of the Ownership of Dominos Pizza Was Once Traded for a Used Volkswagen Beetle Ben & Jerrys Was Originally Going to Be a Bagel Company The founder of FedEx Once Saved the Company by Taking Its Last $5,000 and Turning it Into $32,000 by Gambling in Vegas. The Founder of Wendys Helped Save KFC and was a High School Dropout The S.O.S in S.O.S Brand Scrub Pads Stands for Save Our Saucepans UPS Was Founded By Two Teenagers With One Bicycle and $100 Borrowed from a Friend American Airlines saved $40,000 in 1987 by eliminating one olive from each salad in the first class. There are 100 million internet users in China. Some of the sites they cant access are BBC news, Amnesty International and Dalailama.com. The original name of Bank of America was Bank of Italy. If the entire population of earth was reduced to exactly 100 people,50% of the worlds currency would be held by 6 people. Ninety percent of New York City cabbie s are recently arrived immigrants. Members of the armed forces and the police cannot vote in the Dominican Republic. The Mall in Washington, D.C. is 1.4 times larger than Vatican City. The ten most generous governments (relative to GDP) are all in Europe. 72% of people in Mali earn less than $1 per day. More than 20% of the votes in the 2001 elections in Argentina were invalid. You can be imprisoned for not voting in Fiji, Chile and Egypt - at least in theory. Former enemies, America and Russia now have a great deal in common - they both lead the world in locking people up. The word politics describes the process so well: Poli in Latin meaning many and tics meaning bloodsucking creatures. Julius Caesar, Alexander the Great, and Dostoyevsky were all epileptics (aka brain disorder). The first owner of the Marlboro Company died of lung cancer. Winston Churchill was born in a ladies room during a dance. The 3 most valuable brand names on earth: Marlboro, Coca-Cola, and Budweiser, in that order. The highest publicly reported amount of money paid for a domain name is $7.5 million! Paid for business.com.
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26. 27. 28. 29. 30. 31. 32. 33. 34.
A single individual, Dr. Lieven P . Van Neste, owns over 200,000 domain names! Every 23 seconds a Tupperware party starts somewhere in the world.
The largest employer in the world is the Indian railway system, employing over a million people! The major air-polluting industries are iron, steel and cement. Sweden is the largest spender on ketchup. Adolf Hitler was a vegetarian. A company, Warner Communications paid $28 million for the copyright to the song Happy Birthday. The save icon on Microsoft Word shows a floppy disk, with the shutter on backwards. More Monopoly money is printed yearly than real money throughout the world.
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BRAIN TICKLERS
Who was the founder of McDonald's international chain of restaurants? Raymond Kroc. McDonald's was originally started by brothers Dick and Mac McDonald, of San Bernadino, California, in 1948. By 1955 they had 8 outlets. With their permission, Ray Kroc opened their ninth outlet, in Illinois, and subsequently acquired the business from the McDonald brothers, and the business began its inexorable creep across the world. Who founded the FedEx corporation? Frederick W. Smith. Frederick W. Smith founded the FedEx corporation in 1971 right after finishing college. The company has had many merge rs and purchases since and offers seven different types of service, not just limited to package transport.
Who was the founder of G.E.(General Electric)? Thomas Alva Edison. Thomas Alva Edison, history's great inventor, started the "Edison General Electric" company in 1890 in a laboratory in Menlo Park, New Jersey. In this day and age, the company produces a huge amount of products from light bulbs to jet engines. They have even started their own bank and loan corporation. What was the first division of General Motors Automobile Corporation? Oldsmobile. Olds Motor Vehicle Company is the oldest division of General Motors Corporation, it was first organized by Ransom E. Olds. Cadillac came a bit later in 1902, Buick in 1903, GMC in 1911, Chevrolet in 1911 and Pontiac in 1937. Walmart was founded by whom? Samuel Walton. Wal-mart stores as we know them today began in 1962. They were founded by Sam Walton. Hence the "Sam's Club" name of one of their stores. On a side-note, the brand "Ol' Roy" dog food owes its name to Sam's trusted old dog, Roy. Who was the founder of Ebay Inc? Pierre Omidyar. Pierre Omidyar founded ebay as "The Worlds Online Marketplace" in 1995. Pierre launched ebay as a hobby and it quickly grew into the most powerful tool to buy and sell on the internet. Who is the founder of Apple computer corporation? Steven Wozniak. The Apple computer corporation was founded by Steven Wozniak in 1976 with the introduction of the Apple I. It was a 1mhz processor and 8kb of ram. Who was the founder of the Anheuser-Busch company? Adolphus Busch. The Anheuser-Busch corporation was founded in 1857 by Adolphus Busch after the company had gone through many changes and three changes of ownership since 1852. William Gates founded what mega-corporation? Microsoft. William (Bill) Gates founded the Microsoft corporation which has turned into the largest and most influential software company in the world. Who founded the Honda Motor Company? Soichiro Honda. Soichiro Honda founded the Honda motor company in 1946. Honda now produces much more than just cars. They produce motorcycles and many types of small engines.
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Barbie's full name is Barbara Millicent Roberts. 30% of Chinese adults live with their parents. 200 million people in China live on less than $1 a day. China is the source of 70% of the worlds pirated goods. 20% of the world's population lives in China. People spend about two weeks of their lives at traffic lights! Ten years ago, only 500 people in China could ski. This year, an estimated 5,000,000 Chinese will visit ski resorts. In comic strips, the person on the left always speaks first. In 10 minutes, a hurricane releases more energy than all of the world's nuclear weapons combined. Pearls melt in vinegar. Most lipstick contains fish scales. The USA has more personal computers than the next 7 countries combined. The women of Iceland earn two-thirds of their nation's university degrees. American adults have been educated for the longest time. The top 8 most developed countries all speak Germanic languages. Every such country is in the top 20. All Humans Are 99.9% Genetically Identical and 98.4% of human genes are the same as the genes of a chimpanzee. In Chinese the words for crisis and opportunity are the same. In space, astronauts cannot cry properly, because there is no gravity, so the tears can't flow down their faces! The word "set" has more definitions than any other word in the English language. Thirty-five percent of the people who use personal ads for dating are already married. The shortest war in history was between Zanzibar and England in 1896. Zanzibar surrendered after 38 minutes. Shakespeare invented the words "assassination" and "bump". People share their birthday with at least 9 million other people in the world. If the population of China walked past you in a single line, the line would never end because of the rate of reproduction. The word "lethologica" describes the state of not being able to remember the word you want. More people are killed by donkeys than in plane crashes annually. Half of all Americans live within 50 miles of their birthplace. The most popular requested boat name is "Obsession". The sentence "the quick brown fox jumps over the lazy dog" uses every letter in the English language. The "sixth sick sheik's sixth sheep's sick" is said to be the toughest tongue twister in the English language. "I am." is the shortest complete sentence in the English language. Hawaiian alphabet has 12 letters. Only one person in two billion will live to be 116 or older. The Chinese ideogram for 'trouble' depicts two women living under one roof'. In Tibet it is considered good manners to stick out your tongue at someone.
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Albert Einstein's parents were worried he was mentally slow, because it took him a long time to learn how to speak. The youngest pope was 11 years old. Average number of people airborne over the US any given hour: 61,000. The first domain name ever registered was Symbolics.com. Every single "all a's" domain name, from a.com to aaa..aaa.com (63 a's) has been registered! Every single possible 3-character .com domain (over 50,000) has long since been registered! On average, 100 people choke to death on ball-point pens every year, so don't stick it in your mouth! The average person laughs 13 times a day! There are 336 dimples on a regulation golf ball.
In most advertisements, including newspapers, the time displayed on a watch is 10:10. Los Angeles's full name is "El Pueblo de Nuestra Senora la Reina de los Angeles de Porciuncula". There are only four words in the English language which end in "-dous": tremendous, horrendous, stupendous, and hazardous. Maine is the only state in the US whose name is just one syllable. "Dreamt" is the only English word that ends in the letters "mt". The longest one-syllable words in the English language are "strengths" and "screeched". The national anthem of Greece has 158 verses. No one in Greece has memorized all 158 verses. Antarctica is a desert. Icthyomaniacs are people who are crazy about fish. Eskimos have over 100 words for ice. The names of the continents all end with the same letter as they start with. Coincidence? The very first Olympic race, held in 776 BC, was won by Corubus, a chef. 365 different languages are spoken in Indonesia. The name Wendy was made up for the book Peter Pan. There was never a recorded Wendy before. On average, 12 newborns will be given to the wrong parents daily! The longest word that can be typed using only the right hand is lollipop. The name for having a fear of long words: Hippopotomonstroses-quippedaliophobia. Ironic, isn't it? Ancient Egyptians slept on pillows made of stone! The word "four" has four letters. In the English language there is no other number whose number of letters is equal to its value. "Skepticisms" is the longest word that alternates hands when typing. On average people fear spiders more than they do death. "Almost" is the longest word in the English language with all the letters in alphabetical order. The only 15 letter word that can be spelled without repeating a letter is "uncopyrightable". India never invaded any country in her last 10,000 years of history. Every year some 50 million cars are added to the world's roads.
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No word in the English language rhymes with "month", "orange", "silver" or "purple". The vocabulary of the average person consists of 5,000 to 6,000 words. If you take a pencil, you can draw a 50 kilometer (31 mile) long line. Women blink nearly twice as much as men. Stewardesses is the longest word typed with only the left hand. The longest word in the English language is 1909 letters long and it refers to a distinct part of DNA. The average life expectancy of a toilet is 50 years. Typewriter, is one of the longest words that can be made using the letters on only one row of the keyboard. An average secretary's left hand does 56% of the typing. In ancient Egypt, priests plucked every hair from their bodies. Your nose smells best when you are about 10 years old. Fingernails grow nearly 4 times faster than toenails. Our eyes are always the same size from birth, but our nose and ears never stop growing. The average person has over 1,460 dreams a year. There are more than 40,000 characters in Chinese script. Bamboo can grow up to 36 inches a day. Babies crawl an average of 200 meters a day. The deepest hole ever made in the world (in Texas) is as deep as 20 empire state buildings but only 3 inches wide. Men are more likely to be left-handed (10%) than females (8%). When someone annoys you, it takes 42 muscles in your face to frown. The strongest muscle in the body is the tongue. The most common name in the world is Mohammed. Right-handed people live, on average, nine years longer than left-handed people do.
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INDIRA GROUP OF INSTITUTES

Essential Business Knowledge

Compiled & Edited by: Prof. Manjoo Phadke

Major world organizations

180 182 183 187 195 195 196

Crosswords, Gap Fillers, Did-You-Knows etc Learning through Fun

10. PETER SENGE

11. PHILIP KOTLER

12. STEPHEN COVEY

13. TOM PETERS

ManageMent and other books

1. A BETTER INDIA: A BETTER WORLD

3. COMPETING FOR THE FUTURE

5. FIRST, BREAK ALL THE RULES

6. FIVE POINT SOMEONE

8. HOW TO WIN FRIENDS & INFLUENCE PEOPLE

9. IMAGINING INDIA: THE IDEA OF A RENEWED NATION

10. IN SEARCH OF EXCELLENCE: LESSONS FROM AMERICAS BEST-RUN COMPANIES

11. MY YEARS WITH GENERAL MOTORS

13. THE ESSENTIAL DRUCKER

15. THE GOAL

16. THE POWER OF POSITIVE THINKING

18. THE WINNING WAY : LEARNINGS FROM SPORT FOR MANAGERS

19. THE WORLD IS FLAT: A BRIEF HISTORY OF THE TWENTY-FIRST CENTURY

20. WHAT GOT YOU HERE WONT GET YOU THERE

22. YOU CAN WIN

Major indUstries and CoMpanies

Net Sales (Rs. Cr,) 2011-12

PAT (Rs. Cr.) 201112

Automotives Cars and Jeeps

Mahindra & Mahindra

Maruti Suzuki Chevrolet Toyota Volkswagon Ford Motors Force Motors

Maruti Suzuki Mahindra and Mahindra Toyota Tata Motors

Automotive LCVs and HCVS Tata Motors

Ratan Tata Chairman Ravikant Vice Chairman

Maruti Suzuki Hyundai Mahindra and Mahindra Toyota Nissan

Net Sales (Rs.Cr,) 2011-12

PAT (Rs.Cr,) 2011-12

Dheeraj Hinduja Chairman R Seshasayee Executive Vice Chairman

Ashok Leyland Tata Motors

Automotives 2 and 3 Wheelers Bajaj Auto

Rahul Bajaj Chairman

Brijj Mohan Lal Munjal Chairman Pawan Munjal MD and CEO

Venu Srinivasan Chairman and MD

Hero Motocorp Kinetic TVS Motors

Bajaj Auto Kinetic TVS Motors

Bajaj Auto Hero Motocorp Kinetic

2. BANKING AND FINANCIAL SERVICES AND INSURANCE

Net Sales (Rs. Cr,) 2011-12

PAT (Rs. Cr.) 2011-12

Main Brands/ Services

Adarsh Kishore (Chairman) Shikha Sharma (MD & CEO)

ICICI Bank SBI Kotak Mahindra Yes Bank

Dr. Rana Kapoor MD

ICICI Bank HDFC SBI Kotak Mahindra

Net Sales (Rs.Cr,) 2011-12

PAT (Rs.Cr,) 2011-12

Main Brands Services

Kotak Mahindra Bank

Uday Kotak (Vice Chairman) & (MD)

ICICI Bank HDFC Axis Bank SBI

Public Sector Banks SBI

K R Kamath Chairman and MD